Scope Capital Arranges $16M in Financing for Philadelphia Multifamily Complex

by Taylor Williams

PHILADELPHIA — Scope Capital has arranged $16 million in bridge-to-HUD financing for The Washington, a newly built multifamily complex in Philadelphia’s Kensington neighborhood. The Washington will offer 72 units in one- and two-bedroom formats with an average size of 881 square feet. Amenities will include a fitness center, business center and a rooftop deck, as well as ground-floor commercial space. An undisclosed regional bank provided the three-year, interest-only loan to the borrower and developer, Philadelphia-based Trinity Realty Cos.

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