WelcomeLend Acquires Multifamily Property In Philadelphia For $45.6M

3417 West Indiana Avenue, Philadelphia, Pennsylvania 19132, United States

$45,600,000

$261/SF

Building Size

174,306 SF

Asset Type

MultiFamily

Closing

Mar 30, 2022

AI

A construction loan has been secured for a multifamily property located at 3417 W. Indiana Ave. in Philadelphia. The property spans approximately 174,306 square feet and consists of 177 units. The transaction took place on March 31, 2022.

Summary of transation details

Property Type: Multifamily
Transaction Amount: $45,600,000
Address: 3417 W. Indiana Ave., Philadelphia
Market: Philadelphia
Square Footage: 174,306
Units: 177

The lender for this construction loan is Debt Fund, while the landlord is SPE. The deal was facilitated by Joshua Dormody and Cameron Huard of WelcomeLend, who represented the buyer and seller in the transaction.

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