Charter School | Philadelphia, PA

Project Features:

  • $5,170,000 Permanent Loan Refinance
  • 5 year term with 25-year amortization at 4.25% Fixed Rate

RPC closed a $5,170,000 permanent financing for a three-story 45,000 square foot charter school located in a former industrial loft building in the Temple Hospital neighborhood of North Philadelphia. The 75% loan-to-value loan was as a five-year term at a fixed interest rate of 4.25% on a 25-year amortization schedule. Loan proceeds were used to reimburse capital improvements including tenant fit out for a new charter school that will take occupancy later this year. Significantly, the loan funded prior to the new tenant taking occupancy.