Loan Type : Permanent Refinance
Loan : $3,378,750
A $3,378,750 refinance of a 19-unit, 74-bed student housing apartment building in the Temple University market. The loan carries an interest rate of 4.90% with a five-year term and 25-year amortization and was underwritten at 75% loan-to-value. The refinance retired existing bank debt and provided significant “cash-out” to the client.