PHILADELPHIA, PA - Bayport Funding, a direct private bridge lender for real estate developers, has provided a $1.25 million construction loan for a ground-up multifamily development on West Huntingdon Street in the West Kensington neighborhood of Philadelphia. The three-story, corner-lot building will comprise seven apartment units, in addition to a cellar.
“Philadelphia continues to show strong fundamentals driven by sustained rental demand,” said Marcia Kaufman, CEO, Bayport Funding. “This project will bring a high-quality product to a market seeing renewed population growth as one of the most in-demand East Coast cities.”
The building will provide residents with immediate access to shopping, dining, and recreational options, as well as convenient connections to the city’s transit systems.
For more information about Bayport Funding and its latest activities, 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 $1.7 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