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DW Partners Secures $27.5M Loan From BBVA For MultiFamily Property In Philadelphia

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FINANCED
$27,500,000

Pennsylvania

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MultiFamily
Financed 08/13/2019
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FINANCED

DW Partners Secures $27.5M Loan From BBVA For MultiFamily Property In Philadelphia

1600 Callowhill St, Philadelphia, PA, 1...

See Similar Deals
MultiFamily
Financed 08/13/2019
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Summary

PENNSYLVANIA
Asset Type:MultiFamily
Transaction Type:Loan

The property at 1600 Callowhill St, Philadelphia, PA, is a MultiFamily asset involved in a recent transaction. The loan amount for this property was $27,500,000.00. The borrower, DW Partners, secured the loan from BBVA. Noble Carpenter and Sridhar Vankayala from Cushman & Wakefield represented the borrower in this deal.

Summary of transaction details:

In this transaction, Noble Carpenter and Sridhar Vankayala from Cushman & Wakefield acted as the borrower's representatives. The lender in the deal was BBVA, providing the loan amount of $27,500,000.00 to the borrower, DW Partners.

Players

6 deals$2.6B volume
BROKER


Ivy Realty
BROKERAGE

BBVA
LENDER

Ivy Realty
LANDLORD

Details

FINANCED
IMAGE: 08/13/2019 ADDRESS: 1600 Callowhill St, Philadelphia, PA, 1... MARKET: Philadelphia ASSET TYPE: MultiFamily BORROWER'S REP: Noble Carpenter(), Sridhar Vankayala(Cushman & Wakefield) BORROWER: DW Partners LENDER: BBVA LOAN AMOUNT: $27,500,000.00

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,500,000.00

Monthly NOI$183,333.33
Monthly Debt Service$173,818.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00