Project Features:
- Cash-Out Refinance
- $3,500,000 Permanent Loan
- 7 Year Term with 25 Year amortization at 4.15% fixed rate
RPC closed a $3,500,000 refinance of an 87,000 square foot industrial/flex building located in Norristown, PA. The loan carries a seven year term fixed at a rate of 360 basis points over the 7-year treasury (rate was 4.15% fixed at closing) on a 25 year amortization. It was underwritten at 75% loan to value and provided for over $1,000,000 of “cash-out” to the client.