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$18,000,000 Student Housing Bridge Loan

Loan Type : Permanent Financing

Loan : $18,000,000

An $18,000,000 18-month bridge loan with interest rate of Prime plus 1% and a floor of 5.0%. The loan is interest-only for the first 12-months and amortized over 15 years thereafter. It was underwritten at 45% of value. The client is a general contractor who completed construction of the project entirely with their own cash, and due to extenuating circumstances missed the leasing season. At closing the property was approximately 25% occupied. The financing allowed the client to recoup the vast majority of the construction cost until the property is stabilized and ready for permanent financing.

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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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