FINANCED
FBRE Capital Refinances $20M Philadelphia Multifamily Property With $4M Cash Out
FBRE Capital brokers loan on a 300-unit Philadelphia multifamily property for $20,000,000
Industrial
118,500 SF
118,500 SF
Financed 1 year ago
Summary
Loan
PENNSYLVANIA
Industrial
118,500 sqft
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.
Players
Details
FINANCED
IMAGE: Solomon Birnbaum & Thomas Fuchsman
DATE: 03/01/2021
MARKET: Philadelphia
ASSET TYPE: Multifamily
BROKERS: Solomon Birnbaum & Thomas Fuchsman @FBRECapital
LOAN AMOUNT: $20,000,000
LOAN TERMS: 2.56% Interest Rate, 5-years Interest Only, $4 Million Cash Out
NOTE FROM @FBRECapital: Fbre Capital client refinanced the 300-unit Philadelphia multifamily property for $20 million. Fbre closed a 2.56% loan with 5-years interest only and achieved a $4 million cash out on a 30% student housing concentrated asset. Fbre Capital provides boutique commercial real estate advisory services to domestic & foreign investors and developers. For effective financing executions or general advisory inquiries please contact Solomon at FbreCapital.comView on map
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AddressFBRE Capital brokers loan on a 300-unit Philadelphia multifamily property for $20,000,000
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