1201 Jackson Street

Philadelphia, PA
$26MM Construction Loan

Challenge
Arranging a construction loan for a multifamily Property in a rapidly developing neighborhood in South Philadelphia. Today’s market conditions have seen a rapid decline in the availability of proceeds for ground-up multifamily projects

Solution
Washington Square was able to secure a highly levered construction loan from a foreign capital source. Local banks and many domestic sources have either withdrawn or severely tightened their capacity to lend on such Properties