College Town Communities Secures $23.25M Construction Loan For Willow Grove, PA School
FINANCED
$23,250,000
Pennsylvania
See Similar DealsOther4,936 SF
Financed 07/14/2021
FINANCED
College Town Communities Secures $23.25M Construction Loan For Willow Grove, PA School
501 York Road, Willow Grove, PA, USA
See Similar DealsOther4,936 SF
Financed 07/14/2021
Summary
PENNSYLVANIA
Asset Type:Other
Price Per Square Foot:$4,710
Total Square Footage:4,936 SF
Transaction Type:Loan
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,250,000.00
Monthly NOI$155,000.00
Monthly Debt Service$146,955.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions