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

The multifamily property located at 950 Progress St in Pittsburgh, PA was involved in a loan transaction. The loan was provided by Asia Capital Real Estate (ACRE) through their representative, Daniel Jacobs. The landlord of the property is MCM Company.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $28,800,000
• Loan Terms: The two-year loan includes three one-year extension options and was made at a loan-to-value ratio of 79.8 percent, indicating an asset valuation of roughly $36.1 million.

The loan amount of $28,800,000 was provided to facilitate the transaction. Daniel Jacobs from Asia Capital Real Estate (ACRE) represented the lender in this deal. MCM Company, the landlord, was involved in the loan transaction for the multifamily property located at 950 Progress St in Pittsburgh, PA.