Loan Type: Non-recourse
This portfolio consisted of a $1,275,000 non-recourse loan on a 17-unit multi-family two property portfolio located in the Queen Village section of Philadelphia. The loan was written as a seven-year note with a 25-year amortization and a fixed interest rate of 4.5%. The loan was underwritten at 75% loan-to-value. One of the properties was a rooming house style property with shared bathrooms.