Updated Sep 14, 2026
Bank OZK And Starwood Property Trust Provide $400M Construction Loan For Development Site On South Broad Street In South Philadelphia, Represented By Ackman-Ziff
1001 South Broad Street, Philadelphia, Pennsylvania 19147, United States
$400,000,000
$210/SF
Building Size
1,900,000 SF
Asset Type
Development Site
Closing
Jan 19, 2022
About this deal
AI
A development site located at 1001 South Broad Street in South Philadelphia has recently closed in a transaction. The property spans approximately 1,900,000 square feet and is classified as a Development Site.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $400,000,000
- Loan Type: Construction Loan
- Address: 1001 South Broad Street
- Market: South Philadelphia
The loan for this transaction was provided by Bank OZK and Starwood Property Trust. The landlords involved in this deal are Post Brothers, represented by Matt Pestronk, and Tower Investments, represented by Bart Blatstein. The brokers involved with the transaction are Russell Schildkraut and Christine Zivkovic from Ackman-Ziff.
On the Map
$400,000,000
$210/SF
Development Site
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Players
Philadelphia Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93