PHILADELPHIA, PA – NRIA has closed a $13 million,mid-construction loan, with financing partner, ACRES Capital Corp.The loan will be used to fund the completion of the luxurytownhouse community, Moderna at Rittenhouse, in Philadelphia,PA.
The mid-construction loan carries an initial term of 12months.
Moderna at Rittenhouse consists of eight, more than $2.8million, luxury residences. Prior to the loan's closing, two of theproperty's eight units were pre-sold.
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