Loan Type : Acquisition
Loan : $2,029,125
A $2,029,125 construction loan for the conversion of an office building into an 11-unit apartment complex located in Center City Philadelphia, Pennsylvania. The six-year loan features a 12-month construction period with a fixed rate of 4.25% and a five-year fixed rate option at 275 basis points over the five-year treasury on a 25-year amortization.