Monroe Office Building

Details

A $4,883,000 “cash-out” bridge loan on a 72,757 square foot office building located in Philadelphia, Pennsylvania. The loan carried a 24-month term with one 12-month extension option and a rate of LIBOR plus 315 basis points, followed by a five-year “mini-perm” option at 275 basis points. The loan allowed the sponsor to recoup over $500,000 in equity.

RELATED PROJECTS