Green-St-Philadelphia-PA

Colliers Secures $10.8M Construction Loan for Multifamily Development in Philadelphia

by Amy Works

PHILADELPHIA — Colliers International’s Philadelphia Capital Markets Group has secured a $10.8 million construction loan for Green Street Townhomes, a for-sale townhome development in Philadelphia. The loan features an 80 percent loan-to-cost ratio, a 4.5 percent floating rate, 24 months of interest-only payments and a 12-month extension option. Kris Wood, John Banas and Alex Hails of Colliers arranged the financing for the undisclosed borrower.

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