Asia Capital Real Estate Secures $28.8M Loan For Pittsburgh Multifamily Property
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This MultiFamily property located in PA received a loan of $28,800,000 almost 3 years ago.
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- Location950 Progress St, Pittsburgh, PA, USA
- Loan Value$28,800,000
- Asset TypeMultiFamily
- Parties1 Lender
Deal Summary
LOAN
IMAGE:
DATE: 04/30/2021
ADDRESS: 950 Progress St
MARKET: Pittsburgh, PA
ASSET TYPE Multifamily
LENDER: Asia Capital Real Estate (ACRE) - Daniel Jacobs
LANDLORD: MCM Company
LOAN AMOUNT: $28,800,000
LOAN TERMS: 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
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