Impact in Action | Mary Fashion Apartments

Impact in Action | Mary Fashion Apartments

Loan Type: Cash Out Refinance
Loan Amount: $900,000
Loan to Value: 70%
Interest Rate: 10.99%
Length of Loan: 9 months

Results
Previously an industrial sewing warehouse, this Bath, PA property underwent significant construction in order to be converted into an 11-unit apartment complex, with units ranging from 800 to 1,000 sq. ft. each.

With rehab now completed, the borrower utilized DLP Funding to cashout on the investment. The proceeds will be used to fund upcoming investment opportunities. Additionally, this refinancing will bridge the property through to permanent, long-term financing with another lender.