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1600 Callowhill St, Philade...

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

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:

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

Noble Carpenter

Broker

$2.6B

vol

6 deals

Broker
Ivy Realty
Ivy RealtyBrokerage
BBVA
BBVALender
Ivy Realty
Ivy RealtyLandlord

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