Updated Oct 28, 2024
Method Co. Acquires Multifamily Property In Philadelphia For $30M Loan From Pacific Western Bank
4300 Ridge Avenue, Philadelphia, PA, USA
$30,000,000
$206/SF
Building Size
145,450 SF
Asset Type
MultiFamily
Closing
Sep 8, 2021
About this deal
AI
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.
On the Map
$30,000,000
$206/SF
MultiFamily
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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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93