IBorrow Provides $52M Loan For Student Housing In Philadelphia
1601 North 15th Street, Philadelphia, Pennsylvania 19121, United States
$52,000,000
$8,256/SF
Building Size
6,298 SF
Asset Type
—
Closing
Feb 20, 2022
AI
The student housing located at 1601 N 15th St in Philadelphia has been involved in a recent closed property transaction. The property consists of 798 beds, making it a significant asset in the student housing market.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $52,000,000
- Address: 1601 N 15th St, Philadelphia
- Market: Philadelphia
- Asset Type: Student Housing
- Beds: 798
The lender involved in the transaction is iborrow''>iBorrow, represented by Brian Good. They provided a loan amount of $52,000,000 for the student housing property.
Players
Philadelphia CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93