Emerald Creek Capital Provides $34 Million Bridge Loan For MultiFamily Property In Philadelphia
FINANCED
$34,000,000
Pennsylvania
See Similar DealsMultiFamily
Financed 09/13/2023
FINANCED
Emerald Creek Capital Provides $34 Million Bridge Loan For MultiFamily Property In Philadelphia
4900 Spruce Street
See Similar DealsMultiFamily
Financed 09/13/2023
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 4900 Spruce Avenue in Philadelphia. The loan, facilitated by Emerald Creek Capital, amounted to $34,000,000 and was categorized as a bridge loan. The property's market value and additional details were not provided.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $34,000,000
- Lender: Emerald Creek Capital
- Brokers: Thomas Wayda & Jacob Kaplan - Greystone
Thomas Wayda and Jacob Kaplan from Greystone served as the brokers in this deal. No additional information regarding the property's characteristics, such as square footage or specific features, was provided.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,000,000.00
Monthly NOI$226,666.67
Monthly Debt Service$214,903.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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