Loan Type : Refinance
Loan : $3,900,000
A $3,900,000 refinance of a six-building, 87-unit apartment complex located in Philadelphia, Pennsylvania with a 73% loan-to-value. An existing client approached RPC upon receiving a very attractive offer on another property that had brand new debt with a substantial prepayment penalty. RPC negotiated with and convinced the lender to “swap” collateral for this property in lieu of the other property, thereby allowing the client to realize a large monetary gain with no prepayment.