Updated Oct 29, 2024
Webster Bank Provides $90M Loan For LCOR's Multifamily Property In Philadelphia
1 Dock Street, Philadelphia, Pennsylvania 19106, United States
$90,000,000
Units
267
Asset Type
MultiFamily
Closing
Nov 16, 2022
About this deal
AI
A multifamily property located at 1 Dock Street in Philadelphia was recently involved in a closed transaction. The property consists of 267 units and is owned by LCOR. The transaction took place on November 16, 2022, with Webster Bank providing a loan amount of $90,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $90,000,000
- Address: 1 Dock Street
- Market: Philadelphia
- Units: 267
- Lender: Webster Bank
- Landlord: LCOR
This transaction involves the collaboration between LCOR as the property owner and Webster Bank as the lender. The loan provided by Webster Bank will support the multifamily property at 1 Dock Street, adding value to the Philadelphia market.
Philadelphia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse Pennsylvania multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93