PHILADELPHIA, PA - Bayport Funding, a direct private bridge lender for real estate developers, has provided a $2.15 million construction loan for a new ground-up multifamily development on West Girard Avenue in North Philadelphia. The five-story, 10,763-square-foot rental building will feature 13 modern apartment units, a basement, and elevator service.
“We’re seeing continued strength in Philadelphia’s rental market, particularly for thoughtfully designed, mid-sized apartment buildings that cater to local demand,” said Marcia Kaufman, CEO of Bayport Funding. “This project represents the kind of smart, well-located development that meets today’s housing needs while supporting the city’s growth.”
Residents will enjoy immediate access to neighborhood shopping, dining, and recreational options, along with convenient connections to public transportation across the city.
For more information about Bayport Funding and its latest projects, visit www.BayportFunding.com
About Bayport Funding: Bayport Funding is a balance sheet lender that provides bridge financing to real estate investors for single family, multifamily, mixed-use, and ground-up construction projects. Bayport has originated more than $1.3 billion. The firm is dedicated to the real estate investor community that depends on immediate availability of capital for funding projects. Bayport Funding understands the real estate investor business model and will tailor a customized Smart Money Loan Program to meet each lender’s specific needs. Bayport Funding offers several types of loan structures for investors who fix and flip properties, an opportunity to achieve significant return on investments and revitalize communities. For more about Bayport Funding, please visit www.bayportfunding.com