Preferred Equity for Pennsylvania Retail Development

Funded by Gelt Financial, LLC

Willow Grove, PA

$600,000

Mixed-Use, Retail

Preferred Equity

12/16/2021
Transaction by
Gelt Financial, LLC
Gelt Financial, a direct CRE lender, provided $600,000 in preferred equity for a mixed-use development project in Willow Grove, Pennsylvania. The subject property is adjacent to a shopping mall and anchored by a Sherwin Williams store. It has 8 retail units on an odd-shaped lot. The purchase price was $1,800,000. A local bank provided a senior mortgage of $1,336,000. We provided the remaining $464,000 for the purchase, plus additional funds for improvements. Upon the sale of the project, the sponsor will repay the $600,000 plus 50% of the profits. This pref equity deal was funded in December 2021.