FBRE Capital Refinances $20M Philadelphia Multifamily Property With $4M Cash Out

A 300-unit multifamily property in Philadelphia has been refinanced for $20 million. The transaction was facilitated by Solomon Birnbaum and Thomas Fuchsman from FBRE Capital. The loan terms include a 2.56% interest rate, 5 years of interest-only payments, and a $4 million cash-out. This property is 30% concentrated in student housing.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $20,000,000
• Market: Philadelphia
• Brokers: Solomon Birnbaum & Thomas Fuchsman from FBRE Capital
• Loan Terms: 2.56% Interest Rate, 5-years Interest Only, $4 Million Cash Out

FBRE Capital, a boutique commercial real estate advisory service, successfully closed the loan transaction for the Philadelphia multifamily property. They specialize in providing financing and advisory services to both domestic and foreign investors and developers. For more information or inquiries, please contact Solomon at FbreCapital.com.