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A Delaware LLC wanted to acquire a 300,000 square foot class “A” office building in Philadelphia for $150 per square foot that was 77% leased. Wells Fargo agreed to fund a purchase money mortgage loan with a maximum LTV of 60%. What is the minimum amount of equity that would be needed to close the acquisition?

a. $45,000,000

b. $9,000,000

c. $18,000,000

d. $27,000,000

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