October 31, 2017 – Philadelphia, PA – Haverford Capital Management, Inc. (“HavCap”) arranged an $800,000 loan to acquire and redevelop a former storage and moving warehouse facility in North Philadelphia. HavCap worked with the Borrower and Lender to structure the loan to include an interest only period followed by a “mini-perm” to allow the Borrower to create cash flow prior to the commencement of amortization.
Financing highlights:
- Loan Amount: $800,000
- Interest Rate: Confidential
- Term: Confidential
- LTV: 65%
- Amortization: 20 years
The Borrower hired HavCap, because “HavCap has a track record of getting deals done in a professional and timely fashion. They understand what lenders in the Philadelphia area are looking for and how to present them opportunities.” HavCap also added value to the transaction by simplifying the loan application process, negotiating competitive loan terms, and coordinated environmental and title work.
October 2017 – Philadelphia, PA – Haverford Capital Management, Inc. (“HavCap”) arranged a $1,500,000 acquisition loan for a local development company to buy an income-producing commercial warehouse in the Kensington neighborhood of Philadelphia. The building houses several large tenants, as well as smaller tenants who utilize their space for uses which include recording studios, distribution, and storage.
Financing highlights:
- Loan Amount: $1,500,000
- Interest Rate: Confidential
- Term: Confidential
- LTV: 75%
- Amortization: 25 years
HavCap worked with several prospective lenders to negotiate the best available terms and played a key role in structuring the financing of the loan. The Borrower noted that “HavCap’s ability to present the deal in a manner in which lenders understood our business plan and the market demand for this property resulted in several competitive offers. HavCap also coordinated obtaining all of the Lender’s deliverables for the closing, including tenant estoppel certificates. We look forward to continuing to work with HavCap in the near future.”
July 2017 – Philadelphia, PA – Haverford Capital Management, Inc. (“HavCap”) arranged an $11,700,000 loan to refinance a former mill in Philadelphia, Pennsylvania. The site has been redeveloped into a mixed-use property comprised of more than 120 loft-style commercial and residential units totaling more than 133,000 SF GLA.
Financing highlights:
- Loan Amount: $11,700,000
- Interest Rate: <4.85% p.a. fixed YRS 1-5
- Term: 10 years
- LTV: 75%
- Amortization: 25 years
HavCap worked with the property owner and prospective lenders to negotiate the best available terms and then coordinated the loan closing with all involved parties. The Property Owner noted, “This is our fifth loan closing in the past year with HavCap and we appreciate their attention to detail, tenacity, broad range of lender contacts, and their ability to resolve problems. We look forward to closing our sixth loan arranged by HavCap later this month.”
April 2017 – Philadelphia, PA – David Spoont of Haverford Capital Management, Inc. negotiated a $1,400,000 loan for the refinancing of an owner-occupied restaurant property in Philadelphia, PA.
Financing highlights:
- $1,400,000 loan
- Cash out
- 15-year term
- 75% p.a. fixed for Years 1-5
- 70% Loan-to-Value
- 25-year amortization
The loan was closed within 60 days of engaging the lender. The undisclosed Borrower thanked Haverford Capital Management, Inc. for completing this refinancing in a timely and efficient matter, and has engaged Haverford Capital Management, Inc. to work on another refinancing project.
March 2017 – Philadelphia, PA – David Spoont of Haverford Capital Management negotiated a $397,500 loan for the purchase of two investment properties in Philadelphia.
Financing highlights:
- $397,500 acquisition loan
- 2 properties, 7 units
- 4.50% interest rate
- 75% Loan-to-Value
- 10 year term
- 25 year amortization
The units represented a mix of student housing, market rate, and Section 8 housing. The undisclosed Borrower thanked Haverford Capital Management for its “smooth and professional work” and has already engaged with Haverford Capital Management on several other financing projects.
248-Unit Ultra-Luxury Complex (Sale Price: Confidential)
Disposition Advisory Services
Multi-family
Boca Raton, FL
$10,000,000
Permanent Mortgage
Hotel
Royersford, PA
$4,000,000
Construction Loan/Mini-Permanent Loan
Medical Office Building
Voorhees, NJ
$700,000
Construction Loan/Mini-Permanent Loan
Multi-family
Kensington (Philadelphia), PA
$1,500,000
Permanent Mortgage
Mixed-use
East Falls (Philadelphia), PA
NNN Single-Tenant Leased Property (Loan Amount: Confidential)
Permanent Mortgage
Retail
Madisonville, TN
Tupelo, MO
190-Unit Complex (Sale Price: Confidential)
Disposition Advisory Services
Multi-family
Norfolk, VA
$8,000,000
Permanent Mortgage
Industrial
Sugar Land, TX
$11,200,000
$7,000,000 Senior Permanent Mortgage and $4,200,000 SBA 504 Loan
Hotel
Cherry Hill/Voorhees, NJ
508-Unit 3-Property Portfolio
Disposition Advisory Services
Multi-family
Fayetteville, NC
320-Unit Complex (Sale Price: Confidential)
Disposition Advisory Services
Multi-family
Houston, TX
Haverford Capital Management, Inc. 