Loan Type : Permanent Financing
Loan : $3,500,000
A $3,500,000 permanent loan for a 105-unit apartment in the Logan section of Philadelphia, Pennsylvania. The loan was underwritten at 80% loan-to-value at an interest rate of 4.50%. The loan includes substantial “cash out” to the borrower who had owned the property for a relatively short period of time (just over a year).