BRIDGEVIEW APARTMENTS, PHILADELPHIA, PA

Details

Loan type: Permanent Refinance
Loan: $3,300,000

The loan was underwritten at 75% loan-to-value with a 30-year amortization. RPC identified a lender that could close a non-recourse loan within 45 days to refinance a new Class A apartment building. The property had only reached stabilized occupancy two weeks prior to closing, and provided significant “cash out” to the borrower.

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