Wyndmoor Condos


A $7,750,000 construction loan for the development of a mixed-use condominium located in Wyndmoor, Pennsylvania that includes ten residential condos and five retail spaces. The retail tenants include Enza Pizzeria, Locals Coffee, Pure Barre, Lash Lounge and Aloha Smoothie. The loan features a 24-month interest-only term with a floating rate of the LIBOR plus 300 basis points was underwritten at 75% loan-to-value and 67% loan-to-cost.