WelcomeLend Arranges $33.1M Construction Loan For Multifamily Property In Philadelphia, PA
FINANCED
$33,100,000
Pennsylvania
See Similar DealsMultiFamily91,411 SF
Financed 02/28/2022
FINANCED
WelcomeLend Arranges $33.1M Construction Loan For Multifamily Property In Philadelphia, PA
7619 Germantown Avenue, Philadelphia, Pennsylvania 19119, United States
See Similar DealsMultiFamily91,411 SF
Financed 02/28/2022
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$362
Total Square Footage:91,411 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 7619 Germantown Ave in Philadelphia, PA. The property has a total square footage of 91,411 and consists of 114 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $33,100,000
- Address: 7619 Germantown Ave
- Market: Philadelphia, PA
- Square Footage: 91,411
- Units: 114
- Lender: Debt Fund
- Landlord: SPE
- Brokers: Joshua Dormody - WelcomeLend, Cameron Huard - WelcomeLend
- Loan Type: Construction Loan
The loan amount for this transaction is $33,100,000, and the loan type is a construction loan. The broker representatives involved in the deal are Joshua Dormody from WelcomeLend and Cameron Huard from WelcomeLend.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$33,100,000.00
Monthly NOI$220,666.67
Monthly Debt Service$209,214.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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