Simon Sproul Secures $1.8 Million Refinance Loan For Office Property In Broomall, PA

The property asset involved in this transaction is an office located at 1980 Sproul Road in Broomall, PA. The asset has a total square footage of 7,500 and consists of 1 unit. This loan transaction amounts to $1,800,000 and is categorized as a refinance with terms set at 6.10% interest only, comprised of a 5 Year loan with a 30-year amortization. This is a cash-out refinance.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $1,800,000
• Lender: American First Credit Union
• Landlord: Simon Sproul
• Landlord's Representative: John Lagoudis - Aegean Capital
• Loan Type: Refinance
• Loan Terms: 6.10% interest only, 5 Year loan, 30 year amortization
• Cash Out Refinance: Yes

This transaction features key individuals including Simon Sproul, who serves as the landlord of the property, and John Lagoudis, representing Aegean Capital as the landlord's representative in this loan deal. The involvement of American First Credit Union as the lender plays a crucial role in facilitating the financing for this property.