- Public Private Partnership
- $8,000,000 Permanent Loan
- 10-yr LIBOR Swap Rate with a 25-yr Amortization
RPC closed on $8,000,000 in permanent financing for a 60 room Best Western Hotel and 59 room student housing facility situated on a single parcel ground lease adjacent to the Widener University campus, in Chester, PA. The loan was fixed at 250 basis points over the ten-year LIBOR swap rate with a 25 year amortization. Through a ground lease with a university RPC was able to secure a lender willing to step in and retire existing debt at a discount, in a tertiary market that was in much need of economic development.