Black Bear Capital Partners Arranges $3.15M Construction Loan For Multifamily Development In Forks Township, PA

The construction of a multifamily building consisting of 30 units located at 2295 Lafayette Park Drive in Forks Township, PA, was financed with a $3,150,000 construction loan. The loan was provided by American Bank and the terms of the loan include a 5-year fixed rate, interest-only payments, and flexible prepay options.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,150,000
• Number of Units: 30
• Market: Forks Township, PA
• Landlord: Ashley Development Corporation & Black Bear Asset Management
• Brokers: Bryan Manz, Emil DePasquale & George Pektor - Black Bear Capital Partners

The construction loan provided by American Bank was instrumental in financing the development of the 30-unit multifamily building. The project is a collaboration between the landlord, Ashley Development Corporation, and Black Bear Asset Management. Representing the parties involved in the deal are brokers Bryan Manz, Emil DePasquale, and George Pektor from Black Bear Capital Partners.