Method Co. Acquires Multifamily Property In Philadelphia For $30M Loan From Pacific Western Bank
FINANCED
$30,000,000
Pennsylvania
See Similar DealsMultiFamily145,450 SF
Financed 09/08/2021
FINANCED
Method Co. Acquires Multifamily Property In Philadelphia For $30M Loan From Pacific Western Bank
4300 Ridge Avenue, Philadelphia, PA, USA
See Similar DealsMultiFamily145,450 SF
Financed 09/08/2021
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$206
Total Square Footage:145,450 SF
Transaction Type:Loan
The multifamily property located at 4300 Ridge Avenue in Philadelphia, PA, has been involved in a recent transaction. The property spans approximately 145,450 square feet and consists of 142 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Address: 4300 Ridge Avenue, Philadelphia, PA
- Market: Philadelphia, PA
- Lender: Pacific Western Bank
- Landlord: Method Co.
- Broker: Gregg Wallace - AMA Financial
- Loan Type: Construction
The lender for this transaction is Pacific Western Bank, while the landlord is Method Co. The broker representing the deal is Gregg Wallace from AMA Financial.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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