The property asset involved is a multifamily building located at 1614-1620 Ridge Avenue in Philadelphia, consisting of 32 units. The transaction features a bridge loan amounting to $9,225,000, which is aimed at retiring existing construction debt and funding the final phase of the project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,225,000
• Market: Philadelphia
• Lender: Red Oak Capital Holdings
• Landlord: Echo Philly Properties, LLC
• Loan Type: Bridge
• Loan Terms: two-year, interest-only
• Funding for Completion: $1.36M
• Funding for Tenant Improvements: $75K

This transaction is facilitated by Red Oak Capital Holdings, which provided the bridge loan for Echo Philly Properties, LLC, the landlord responsible for the Ridge Avenue Apartments. The loan supports the property's completion and tenant enhancements, helping to advance project goals efficiently.