Project Features: $12,500,000 Acquisition and Development Loan Interest Only Revolving Land Development Loan Limited Recourse to Entity Only, No Personal Guarantees RPC closed a $12,500,000 first mortgage for the horizontal land development of Edgmont Preserve, a 167-lot master planned community situated along West Chester Pike in Newtown Square, PA. The loan carries an interest rate […]
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Project Features: $76,383,000 Acquisition and Development Loan Non-Recourse with a Completion Only Guarantee RPC closed a $76,383,261 first mortgage for the acquisition and horizontal land development of Phase I of a 433-acre 489-lot master planned community situated in West Goshen Township, PA. The loan carries an interest rate of 1,025 basis points over 30-day LIBOR
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Project Features: $53,7822,000 Land Loan Refinance Non-Recourse with a Completion Only Guarantee RPC closed a $53,781,504 first mortgage for the refinance of the remaining undeveloped lots of 549-lot residential development located immediately adjacent to the new Malvern/PA-29 Interchange of the Pennsylvania Turnpike. The loan carries an interest rate of 1,150 basis points over 30-day LIBOR
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