Newmark Knight Frank and RealINSIGHT Marketplace are pleased to present the opportunity to acquire Non-Performing senior loan (the “Loan”) secured by a 26-story, ~60% leased, office building located in Downtown Pittsburgh, PA (the “Collateral” or “Property”).
The Loan, originated on June 30, 2016 with July 6, 2021 maturity, carries a 5.60% coupon and a 10.60% (rate + 5.00%) default rate. The opportunity presents investors the ability to acquire an attractive, low-leverage, non-performing loan secured by exceptional asset offering substantial value creation in Downtown Pittsburgh.
The Collateral is a prominent, strategically located high-rise office tower featuring outstanding views, conference facilities, bank branch and deli on ground level, 24-hour lobby security, on-site tenant storage, loading dock, superior building standards, high-grade carpeting, full height, solid core wood doors and parabolic fluorescent lay-in light fixtures. The Property is within walking distance of numerous public parks, garages, Wood Street and Steel Plaza T Stations and close to the Duquesne Club as well as a number of downtown restaurants and hotels.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.