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$10,600,000 Multifamily Construction Loan

Loan Type : Construction Loan

Loan : $10,600,000

A $10,600,000 construction loan for a 51-unit apartment building located in the Old City neighborhood of Philadelphia, Pennsylvania. The loan carries an initial 27-month construction period at LIBOR plus 300 basis points, followed by a five-year fixed rate loan option at a competitive rate. The loan was underwritten at 75% of the “as-stabilized” value and allowed the sponsor to fund 80% of construction costs.

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Based in the Philadelphia region, Real Property Capital, Inc. (RPC) is a commercial mortgage banking firm with a regional focus and national capabilities... Read More

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303 Harry St.
Conshohocken, PA
19428
(610) 456-9644
bgreen@realpropertycapital.com

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