TEMPLE ACQUISITION – TEMPLE UNIVERSITY PHILADELPHIA, PA

Details

Loan Type: Refinance

Loan: $7,108,000

This $7,108,000 loan consisted of the refinance and acquisition of two student housing portfolios totaling 14 properties located nearby the campuses of Temple University and Drexel University in Philadelphia, PA. The loan has a seven year term with a 25-year amortization and an interest rate of 4.50%. The existing portfolio had substantial vacancy at the time of refinance.

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