August 1, 2023

$9.6 Million Matured Multifamily Development Loan in Philadelphia 

Matured loan accruing at 13.25%, secured by a multifamily property in the midst of gut-renovation located on a corner lot in desirable Center City Philadelphia. The borrower purchased the property in 2019 with (now stalled) plans for full renovation to Class A market rate multifamily. 

Asset Class
Multifamily
Location
Philadelphia
Sale Structure
Individual Loan Offering
Status
In Market
Seller
Bank
Bid Date
08/23/2023

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