RCA Sources $8.2M Construction Loan for NJ Multi-Family Developer
Rittenhouse Capital Advisors recently closed on a $8,200,000 construction loan for a South Jersey developer. The Marlton, NJ multifamily property will consist of 55 class A units, a ground-floor commercial space, and street level parking.
- Loan Proceeds Funded at 80% Loan -to-Cost
- 9 Year Loan Term
- 7-year Fixed Rate Term on Permanent Loan Upon Completion of Construction
- 30 Year Amortization
- Construction Loan Rate Floats Over WSJ Prime
- Permanent Loan Rate, Locked In at Initial Funding at 4.85%
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