The Bishop McDevitt Catholic High School in Harrisburg, Pa. is being adapted into The McDevitt Center with new uses including state offices, general offices, retail, restaurants, banquet-catering hall, fine arts, and a regional antique center. The acquisition and adaptation will cost $4 million, secured by a 1st Mortgage with an 8% annual return amortized over 20 years and a balloon payment by the 7th year. The risk of foreclosure is zero as no bank is ahead of the investors. Settlement is expected in March 2013.
documents/EFTA00301502.pdf
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