Philadelphia Developer KNE to Build 6 Luxury Apartment Units in South Kensington
Philadelphia based Developer KNE Companies Closes Loan to Build 6 Luxury Apartment Units in South Kensington
A South Jersey Community Bank provided the financing to KNE secured by a first mortgage lien position loan on the project. The transaction size was over $1,000,000.
Earthman is delighted with the terms. "We worked hard to get a lender who was the right fit for this project," said Earthman. "In the end we found a southern New Jersey community bank that funded 80% of costs and gave us friendly permanent loan terms."
Earthman's company KNE was represented by Amanda Sokol and Jared Cobert of Diligence Capital Advisors on the loan transaction.
"We all worked hard on this, including our brokers. I am very happy with the result," said Earthman.
The project is scheduled to deliver in the Spring of 2021.
Diligence Capital Advisors