Updated Oct 28, 2024
College Town Communities Secures $23.25M Construction Loan For Willow Grove, PA School
501 York Road, Willow Grove, PA, USA
$23,250,000
$4,710/SF
Building Size
4,936 SF
Asset Type
Other
Closing
Jul 13, 2021
About this deal
AI
College Town Communities has secured a construction loan for a school property located at 501 York Road in Willow Grove, PA. The loan was obtained from Rittenhouse Capital Advisors and is valued at $23,250,000. The loan terms include a 75% loan-to-cost ratio, a duration of 3 years, and an interest rate of WSJ Prime + 0.25%.
Summary of transation details
- Property Type: School
- Transaction Amount: $23,250,000
- Address: 501 York Road, Willow Grove, PA
- Market: Willow Grove, PA
The landlord, College Town Communities, collaborated with their broker, George Johnson from Rittenhouse Capital Advisors, to secure the loan for this school property in Willow Grove, PA. The loan amount of $23,250,000 will support the construction of the school in accordance with the loan terms.
On the Map
$23,250,000
$4,710/SF
Other
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Players
Upper Moreland Township Other Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93