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Diligence Capital Advisors Sources Ground Up Construction Loan for 40-Bed Student Housing Project
Rezul News/10444240
Demand For Off Campus Temple University Student Housing Remains Strong
PHILADELPHIA - Rezul -- Diligence Capital Advisors (DCA) is excited to announce that it has sourced, structured and closed a new construction loan for a prominent student housing developer for a project located in the highly-coveted Temple University Off-Campus Housing Submarket. The project is approved for the construction of a multi-unit student housing property able to house up to 40 students.
DCA was able to procure 80%+ leverage with interest only construction rates in the very low 4% range. Additional terms of the transaction are not available at this time.
"We are proud to be a part of an important, purposeful project of this nature. The Temple University Off-Campus Housing Submarket continues to harden amidst macro-economic uncertainty and reservation. Our ability to structure and close on a loan catered to a ground-up project of this nature speaks volumes about not just the submarket but the strength of sponsor involved in the transaction." said Diligence Capital Advisors Managing Partner Jared Cobert.
More on Rezul News
The Diligence Capital Advisors team has sourced and/or closed senior debt, mezz debt, JV equity and preferred equity deals valued over 2 billion dollars.
About Diligence Capital Advisors
Diligence Capital Advisors is a Capital Solutions Firm based in Philadelphia, PA Haddonfield, NJ. The principals of Diligence Capital Advisors have sourced and/or closed senior debt, mezz debt, JV equity and preferred equity deals valued over 2 billion dollars. If you have a real estate project in the Philadelphia or New Jersey market that requires debt or equity, contacts Diligence Capital Advisors at http://www.DiligenceCapitalAdvisors.com
Press Contact:
Jared Cobert
jcobert@DiligenceCapitalAdvisors.com
215-873-6117
DCA was able to procure 80%+ leverage with interest only construction rates in the very low 4% range. Additional terms of the transaction are not available at this time.
"We are proud to be a part of an important, purposeful project of this nature. The Temple University Off-Campus Housing Submarket continues to harden amidst macro-economic uncertainty and reservation. Our ability to structure and close on a loan catered to a ground-up project of this nature speaks volumes about not just the submarket but the strength of sponsor involved in the transaction." said Diligence Capital Advisors Managing Partner Jared Cobert.
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The Diligence Capital Advisors team has sourced and/or closed senior debt, mezz debt, JV equity and preferred equity deals valued over 2 billion dollars.
About Diligence Capital Advisors
Diligence Capital Advisors is a Capital Solutions Firm based in Philadelphia, PA Haddonfield, NJ. The principals of Diligence Capital Advisors have sourced and/or closed senior debt, mezz debt, JV equity and preferred equity deals valued over 2 billion dollars. If you have a real estate project in the Philadelphia or New Jersey market that requires debt or equity, contacts Diligence Capital Advisors at http://www.DiligenceCapitalAdvisors.com
Press Contact:
Jared Cobert
jcobert@DiligenceCapitalAdvisors.com
215-873-6117
Source: Diligence Capital Advisors
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