Penn Garrison Apartments

• Conversion of two existing downtown office buildings with an excellent location into 125 rental apartment units

• 230,000 SF in total with an average apartment unit of 1,075 SF. Average unit has one bedroom with a study/office or can serve as a two bedroom unit. Sixteen two bedroom units with study/office planned or can also serve as a three bedroom unit.

• Strong development team of RIDC and Oxford.

•Loan repaid in full in December 2004.

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