Washington Square Realty Capital, LLC

08/03/2022

Washington Square recently closed on a $7.1M permanent loan for our friends at Khosla Properties! The loan is secured by “The Brubox”, a 32-unit luxury apartment complex located at 3120 Jefferson Street inn Philadelphia. The loan terms include an interest rate of 4.5% and 30-year amortization.

As always, its been an absolute pleasure working with and his team at Khosla Properties! They are one of our mosts valued long-term clients. We pride ourselves on repeat clients and referrals from our trusted clients and would value the opportunity to earn your business as one of our clients.

The recent volatility in interest rates has kept us very busy this summer, please reach out to us today for help in securing the lowest rates in the current environment or with your construction loan request.

06/20/2022

DEAL CLOSING!!

Washington Square recently closed on another very important loan for our friend and . The $5.1M permanent loan with 4.25% rate is collateralized by 1415 Locust Street a 16-unit mixed use building with ground level retail which includes “Locust Rendezvous” restaurant as well as a gentleman’s club.

Where every deal has some “hair” on it, this one had a few points of contention for lenders. The biggest hurdle was one of the retail tenants being a gentleman’s club. Although the cash flow is extremely stable as the tenants have been there 30+ years, most banks will not lend on the use of the club. While this made the deal challenging, we unturned all stones to find the perfect lending partner, a regional bank. The lender also closed mid-construction, which as many know can be very difficult as well. Thankfully the loan closed without a hitch and starts with a 9-month interest-only period to get the 16 residential units leased this summer at which point the loan will start amortizing. Killed two birds with one stone on this loan.

As always we couldn’t be happier for our client as the loan helped him in several ways. Also not a bad rate to lock-in in todays environment especially being that the building was not fully stabilized! Give us a call today to discuss any commercial real estate finance needs!

06/03/2022

Another successful closing for with this approximate $2M loan secured by 1208 N 29th street! Another repeat client referred by our good friend !

The kicker on this loan is it comes with a 3.5% interest rate which, as many know, is unheard of in new originations but our banking relationships all held rate on term sheets that were issued! Relationships are key here as this deal was primed for a re-trade but the bank followed through on their word and actually are closing two more at 3.5% next week. The 3.5% was extremely aggressive at the time we originated this deal which was right in the middle of the huge rate increase across the board! This stunning property built by is comprised of 6 residential units over a commercial space leased by a salon. Appraised for $150k over sales price!

Call us today with any commercial financing needs!!

06/01/2022

recently closed on an approximately $2M loan secured by 1134 Pine Street for our friend and long term client , founder and owner of ! This particular property is 6 residential units over commercial. Our relationship with Brian continues to grow, in fact we have a few more deals to announce, one of which has already closed! It’s always a pleasure and we’re excited to announce everything else we have going on!

Business is booming! We are always actively seeking new long term client relationships! Give us a call today with any commercial real estate financing needs! Results are proven and speak for themselves.

04/28/2022

Talk about doing another deal with a top client and also someone who has become a close personal friend, it was a pleasure working with and his team at on the construction loan for “The Ace”. This 50-unit to-be-built beauty is located on Chelten Ave in booming Germantown.

As for the loan itself it was an extremely aggressive loan which gave the borrower credit for imputed equity as Anuj and his team were able to create significant value in the acquisition and pre development process. This resulted in an as-is value of approximately double the all in costs. This allowed to secure a $9,980,000 on an approximate total cost basis of $11.3M or 88+%. Needless to say this helps the deal immensely economically. Often banks will give credit for “imputed equity” but only after several years of ownership but in this case it was approximately 6 months! We were extremely happy to deliver once again for a loyal client and friend!

It’s been a crazy hectic period with rates moving so swiftly to the up side! Lots of clients rushing to get refinances done and also to close construction loans in the rising costs market as well! We have our finger on the daily pulse of the capital markets and know exactly which lenders have appetites for certain loan types. This allows us to place our borrowers in the most competitive loans and our value is demonstrated immediately. Call us today with any commercial financing needs!!

04/27/2022

Another one for one of our top clients but even better friends . We worked to help secure and close the construction loan for the latest 79-unit stunner, “The Royale”, coming to roxborough! As always it was a pleasure working with and his team and there will be more deal closing announcements in the near future. Another great job by the entire team!

The $16.42M construction loan was financed by a regional bank and represents over 80% LTC! Always good to get deals done with friends.

Call us today with any commercial financing needs!

04/21/2022

recently closed on a $5.5M refinance of the office of the PA State Attorney General for Keating Partners at 1600 Arch Street!

The 5-year non-recourse loan came with a 3.4% interest rate which is incredible in this market and 30-year amortization. We have done quite a few loans for Dan Keating and covet the relationship immensely.

Give us a call today with any commercial financing needs! Always actively seeking long term client relationships.

04/15/2022

Some recent closings from our team starting with another one from in partnership with once again!

We recently closed on approximately $5M of construction financing for the development of 20 new apartment units and to refinance the existing debt on 17 existing affordable units adjacent to the new development. The Project known as Artists Village is located at 700 S 17th Street in Graduate Hospital and also contains a town home portion unrelated to this loan. This will be the 6th loan we have closed for our friends at The Regis Group and we couldn’t be happier to have them as one of our best client relationships! The Loan carries a 24 month interest only period for construction followed by 5 years of P&I payments at a fixed rate of 3.75%! Sure you’ll be hearing about some closings in the near future with these guys as they continue to crush the Philadelphia real estate market! It’s great to get another one on board with them in such a short time frame. 6 in less then one year. Not a bad way to start off a relationship. Long term client relationships are key!

03/11/2022

Proud to call you not only a great client but great friends as well! Let’s go!

This week marks Khosla Properties 5 year anniversary 🎉🎉

We want to take a moment to thank 🗣 our amazing team, industry partners, and investors for helping us achieve the success we have had over the course of the past 5 years 🤝

However we are just getting started! 🙌






moos.architecture

kyle

03/05/2022

Washington Square recently closed on a loan for and SPD Investments! The loan was for 3907 Haverford Avenue, a newly constructed 6-unit multi-family property.

Once again the ten-year fixed rate loan came with just about a 3.5% interest rate and contains no prepayment penalty. This feature always allows the borrower flexibility whether it be on a future sale or desire to refinance if values were to increase which is obviously not likely at this point but you just never know! Locking in the incredible rate for ten years allows eliminates interest rate risk in this current rising interest rate environment. The guys did a great job, what a beautiful property!

03/04/2022

Washington Square recently closed on $3M of total construction financing for our great friends and to develop a total of 13-units in Fairmount.

The loan is a blanket mortgage over both properties which are adjacent and comprised of a 3-unit building located at 721 N 16th Street and a 10-unit located at 1613 Brown Street for a total of 13-units. The loan comes with a 7-year fixed rate loan with an interest rate of 3.75% and 12-months of interest only for the build out. This is another example of locking in a great rate in a rising interest rate environment and is one of the best construction to perm products out there. In the last 8 months we’ve closed on approximately $35M in total financing for Gary and Erik Reisner of the Regis Group!! We have another $5M coming in two weeks or so. Another example of coveting long term client relationships and continuing to deliver for those clients!

03/03/2022

Washington Square recently closed on a loan for our good friends at ! We’ve known each other for quite a bit and it’s nice to finally get one on the board with Gary and Anthony!

The property is located at E 95 Duvall Street and these photos are a prime example of their top notch work! The loan came with a ten-year term with an extremely competitive interest rate and NO PREPAYMENT!!

Call us today for any commercial real estate financing needs across the whole capital stack nationwide! Always seeking long-term client relationships!