Loan Type : First Mortgage Loan
Loan : $4,280,000
A $4,280,000 first mortgage loan on a newly constructed, 17-unit mixed-use apartment building with ground floor retail in Philadelphia. The loan carries a seven-year term with a 30-year amortization and an interest rate of 4.15%. It was underwritten at 75% loan-to-value and is non-recourse.