– $7MM Commercial Mortgage
– Delaware County, PA
This was a 110,000 SQ FT Office Building that needed refinancing in order to retire a very expensive Bridge Loan. Pennant secured a commercial mortgage at a 5.25% fixed rate for 5 years, on a 25 year schedule, 15 year maturity, and a rate reset every 5th anniversary at 2% over Prime. NO prepayment penalty.