BridgeInvest Closes a $13.25 MM Refinance Loan in Philadelphia, PA
1st Priority Mortgage Loan
Loan Amount
$13,250,000
Property Type
Multifamily
Location
Philadelphia, PA
BridgeInvest is excited to announce the closing of a $13.25 million refinance loan that is senior secured by a brand-new, 40-unit multifamily property in the University City neighborhood in Philadelphia. The property features both 2-bedroom and 3-bedroom apartment units, along with a ground-floor retail space.
Transaction Highlights:
- Loan-to-Cost (LTC): 80%
- Closed prior to the Certificate of Occupancy (CO)
- Structure allows cash-out equity recap post-close
