DW Partners Secures $27.5M Loan From BBVA For MultiFamily Property In Philadelphia
1600 Callowhill St, Philadelphia, PA, 1...
$27,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 13, 2019
AI
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:
- Property Type: MultiFamily
- Transaction Amount: $27,500,000.00
- Address: 1600 Callowhill St, Philadelphia, PA
- Market: Philadelphia
- Borrower's Representative: Noble Carpenter, Sridhar Vankayala (Cushman & Wakefield)
- Borrower: DW Partners
- Lender: BBVA
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
Philadelphia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93