Deal Status

Active

Property Address

Philadelphia, Pennsylvania

Requested Loan Amount

3500000

Loan Term

24

Lien Position

2nd

Collateral Type

Commercial Property

Exit Strategy

Refinance

Commercial Property Type

Hospitality

Hospitality Property Types

Limited Service Hotel

Number of Units

124

Current Occupancy

Vacant

Loan Type

Refinance

Junior Lien Type

Equity Joint Venture

Equity Cash Out

No

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

adaptive reuse from apartments to Hotel in center city

Appraisal

No

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Excellent

Comments

conversion to Boutique Hotel by an experienced developer. Filling a gap in the equity stack. Need 3.5M.

First Name

Jerry

Last Name

Castafero

Company

CREA Group

Role

Mortgage Broker

Location

Philadelphia
Pennsylvania
USA