Palmer Street Townhomes

14 For-Sale Townhomes
Philadelphia, PA

$3MM Revolving Construction Credit Facility

Challenge
The Borrower needed high leverage construction financing to construct 14 for-sale townhomes in Philadelphia’s Fishtown section.

Solution
Washington Square arranged a revolving construction loan, which enabled the Borrower to put in a minimum amount of equity to complete several initial units and redraw the loan to finish the project once the initial units sold.