AMA Financial assisted the Borrower in obtaining a $13,500,000 construction facility for the acquisition and renovation of an old silk mill into 262 beds for student housing at Moravian College, located in historic Bethlehem. The Borrowers experience in the student housing market was very attractive to the lender. The Borrower was able to leverage up to 90% of total costs. The ability to leverage the debt on this property has allowed the Borrower to inject less equity into the transaction, yet still able to maintain a very favorable interest rate.
Loan Type: Acquisition/Construction Loan
Borrower: Silk Mill Realty, LP
Property Type: Student Housing