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Bridge Loan - Waynesboro, PA (
$201,000)
Advest Financial announced its private lending fund, the Advest Short Duration Real Estate Fund I, has provided a $201,000 bridge loan in Waynesboro, PA.
The borrowers acquired and rehabbed this two-and-a-half-story four-unit apartment building. They utilized Advest's private capital as a short term bridge and will refinance with long term permanent financing upon completion and occupancy of the building. The borrowers have a successful track record of acquiring and managing rental properties and Advest has provided short-term capital for several of their properties.