Loan Type : Acquisition
Loan : $6,650,000
A $6,650,000 developmental loan for the horizontal development of Parkway at Chesterbrook, a 132-townhome lot subdivision located in Chesterbrook, Pennsylvania. The loan carries a 36-month term with an interest rate of 250 basis points over the 30-day LIBOR. It was underwritten at 70% loan-to-value.