Loan Type : Bridge Loan
Loan : $5,250,000
A $5,250,000 bridge loan on two apartment buildings, totaling 155 units in the University City neighborhood of Philadelphia, Pennsylvania. The interest-only bridge loan carries an initial twelve-month term, with one six-month extension, at a floating interest rate of LIBOR plus 350 basis points. It was underwritten at 75% loan-to-value.