Loan Type : Permanent Refinance
Loan : $16,250,000
$16,250,000 first mortgage loan on a 294-unit apartment complex located approximately ten miles southeast of Philadelphia in the township of Deptford, New Jersey. The loan carries a seven-year term with a 30-year amortization and an interest rate of 4.1%. It was underwritten at 70% loan-to-value. RPC was able to meet the client’s demands of non-recourse financing at the lowest possible rate with significant cash out.