TEMPLE UNIVERSITY STUDENT HOUSING PORTFOLIO

Details

Loan type:Refinance

Loan: $1,900,000

This loan was underwritten at 75% loan-to-value and has a 6.625% interest rate. Despite the fact that the client had only owned the properties for less than six months, RPC was able to identify a lender willing to provide significant “cash-out” for a portfolio of five student housing properties. Upon acquisition, the properties had been re-let for the upcoming school year with significant rent increases.

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