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$24,300,000 Flex Bridge Loan

Loan Type : Acquisition

Loan : $24,300,000

A $24,300,000 first mortgage on a 243,000 square foot office/flex in West Chester, Pennsylvania. The loan is structured as two components; a permanent loan on the stabilized properties in the development and a construction loan that allowed the client to reposition two mostly vacant 1970s era flex buildings into Class A office. The first loan is a $15,000,000 permanent loan on four of the six buildings and features a five-year term with a 20-year amortization. The second loan is a $9,300,000 construction loan that will allow the client to rehabilitate the two remaining buildings. It features a floating rate of 275 basis points over LIBOR. Both loans were underwritten at 80% loan-to-value.

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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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