Loan Type : Non-recourse
Loan : $4,465,000
A $4,465,000 non-recourse loan secured by a portfolio of six well located multi-family properties in Center City Philadelphia, Pennsylvania. It was written as a ten-year note with a 25-year amortization and a fixed interest rate of 4.62%. The loan was underwritten at 75% loan-to-value and included substantial “cash out” to the client.