Mike Doty & Robert DiMatteo Of Nuveen Green Capital Provide $17.3M Loan For Philadelphia Multifamily Development
2507 Almond Street
$17,300,000
$208/SF
Building Size
83,000 SF
Asset Type
MultiFamily
Closing
Jul 20, 2026
AI
The property involved in this transaction is a multifamily asset located at 2507 Almond Street in Philadelphia, PA. The development consists of 155 units and encompasses a total area of 83,000 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,300,000
- Loan Type: C-PACE
- Loan Terms: 28 years
- Lender: Mike Doty & Robert DiMatteo - Nuveen Green Capital
Mike Doty and Robert DiMatteo from Nuveen Green Capital facilitated the financing for this new apartment development in the Olde Richmond section of Philadelphia. The provided $17.3 million in C-PACE financing was structured competitively to reduce interest costs and enhance flexibility for the sponsor on exit options, highlighting the potential of C-PACE financing in improving a sponsor's cost of capital and overall strategy.
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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93