Loan Type : Construction Loan
Loan : $7,750,000
A $7,750,000 construction loan for the development of a 34-unit mixed-use apartment building located in the Fishtown neighborhood of Philadelphia, Pennsylvania. The loan features a 24-month interest-only term with a floating rate of LIBOR plus 300 basis points and was underwritten at 75% loan-to-value and 67% loan-to-cost.