South Philadelphia Portfolio

2413 Federal Street, Philadelphia, PA 19146
1009 S 3rd Street, Philadelphia, PA 19147
1709 S 4th Street, Philadelphia, PA 19147
$14.4MM Bridge Loan

Challenge
Washington Square was engaged by the Sponsor to secure a high-leveraged loan to take out and the existing lender and complete the construction of three properties in South Philadelphia.

Solution
Washington Square was able secure a $12.4MM bridge loan from a private lender to take out the existing lender, fund the remaining construction work and take the properties through the lease-up phase with a rate drop at CoO.