Loan Type : Construction Financing/Joint Venture Equity
Loan : $23,000,000/$8,000,000
$23,000,000 in construction financing and $8,000,000 in joint venture equity for the construction of a 93,000 square foot grocery-anchored center located in Blue Bell, Pennsylvania. The loan carries a 36-month construction period at LIBOR plus 210 basis points, with two six-month extensions, and was underwritten at 70% loan-to-value.