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Sheridan Capital Arranges $7M Bridge Loan For Multifamily Property On Cecil B Moore Ave

Property Image
FINANCED
$7,000,000

Pennsylvania

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MultiFamily
Financed 02/01/2024
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Property Image
FINANCED

Sheridan Capital Arranges $7M Bridge Loan For Multifamily Property On Cecil B Moore Ave

3002 Cecil B Moore Avenue

See Similar Deals
MultiFamily
Financed 02/01/2024
the dealplayerscompscontact
Contact now

Summary

PENNSYLVANIA
Asset Type:MultiFamily
Transaction Type:Loan

The property involved in this transaction is a multifamily building located at 3002 Cecil B Moore Avenue in Philadelphia, PA. It consists of 50 units. The transaction took place on 02/01/2024.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,000,000
  • Loan Type: Bridge

The deal was facilitated by Asher Bittman from Sheridan Capital. He acted as the broker representing the parties involved in the transaction.

Players

Asher Bittman
Sheridan Capital
Asher Bittman
9 deals$127.8M volume
BROKER

Details

FINANCED
IMAGE: IMAGE: Asher Bittman DATE: 02/01/2024 ADDRESS: 3002 Cecil B Moore Avenue MARKET: Philadelphia, PA ASSET TYPE: Multifamily ~ UNITS: 50 BROKERS: Asher Bittman - Sheridan Capital LOAN AMOUNT: $7,000,000 LOAN TYPE: Bridge

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,000,000.00

Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00