JLJ Capital Provides $16.9M Construction Loan For 945 Frankford Avenue In Philadelphia
945 Frankford Avenue
$16,900,000
Building Size
—
Asset Type
Mixed-use
Closing
Mar 26, 2024
AI
Located at 945 Frankford Avenue in Philadelphia, PA, the mixed-use property involved in the transaction boasts a loan amount of $16,900,000 for construction purposes. The lender, JLJ Capital, provided funding for this project, with Archive Development acting as the landlord in the deal.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $16,900,000
- Loan Type: Construction
- Loan Terms: 18 months
- Lender: JLJ Capital
- Landlord: Archive Development
- Address: 945 Frankford Avenue
- Market: Philadelphia, PA
The transaction involved key individuals such as the lender, JLJ Capital, and the landlord, Archive Development. The loan terms for this deal are set at 18 months, reflecting a strategic investment in the mixed-use property.
Players
Philadelphia Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93