Short-Term Bridge Loan in Philadelphia, PA

The Sponsor needed a bridge loan to refinance the current debt on the portfolio and provide the Sponsor with working capital before the end of 2019.

Solution

Verus Commercial Real Estate Finance issued a 24-month bridge loan with an equity recapture and closed the loan within 2 weeks to meet the Sponsors deadline.

Location: Philadelphia, PA
Property Type: Portfolio of 11 single family townhomes/1 office condo
Loan Type: First Mortgage
Loan Program: Short-Term Bridge Loan
Amount: $5,020,000

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