Asia Capital Real Estate Secures $28.8M Loan For Pittsburgh Multifamily Property

The property asset involved in this transaction is located at 950 Progress St, Pittsburgh, PA. It is categorized as a multifamily asset with a loan amount of $28,800,000 made at a loan-to-value ratio of 79.8 percent, indicating an asset valuation of approximately $36.1 million. The loan is structured as a two-year loan that includes three one-year extension options.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $28,800,000
• Lender: Asia Capital Real Estate (ACRE)
• Lender's Representative: Daniel Jacobs
• Landlord: MCM Company
• Asset Valuation: $36.1 million
• Loan-to-Value Ratio: 79.8 percent
• Loan Terms: Two-year loan with three one-year extension options

This transaction involves Daniel Jacobs, representing Asia Capital Real Estate (ACRE), who provided the loan to the landlord, MCM Company. The distinct terms of the loan reflect a strategic financial arrangement between the involved parties.