Use of loan: Ground Up
Term: 12 months
Loan amount: $180,000
Loan to value: 60%
Location:
A real estate investment group identified a dilapidated mixed-use property in the Point Breeze neighborhood of Philadelphia with the plan of converting the first floor space in a salon with rental apartments above. They needed funds to acquire the property and go through the development process. Bluebird financed the acquisition to allow the investor to add another promising project to their pipeline.
