Project Features:
- Construction Financing
- $8,000,000 JV Equity Investment
- $23,000,000 Construction Loan
RPC secured $23,000,000 in construction financing and $8,000,000 in joint venture equity for the construction of a 93,000 square foot grocery-anchored center located in Blue Bell, PA. The loan carried a 36-month construction period at LIBOR plus 210 basis points, with two six-month extensions. RPC was able to leverage its personal relationships to identify a JV partner to not only provide equity to the transaction, but who was also willing to provide the necessary credit enhancement to obtain a construction loan. Resulting in a better deal for our client than what would otherwise have been attained by placing these components separately.