Location: Newtown Square, PA
Property Type: Mid-Rise Apartment Complex
Loan Purpose: Acquisition / Value Add
Loan Type: Mezzanine
Loan Size: $12 Million
RCG Longview provided a $12 million mezzanine loan to a Sponsor in order to acquire a newly developed multifamily mid-rise apartment complex outside of Center City, Philadelphia. The Sponsor intends to re-brand a portion of the property as high-end, full service, furnished, short-term, corporate rentals.