Post Brothers Secures $170 Million Construction Loan From Affinius Capital For Piazza Alta Development

The asset involved in this transaction is a development site located at 1099 Germantown Avenue in Philadelphia, PA. It is part of a multifamily project called Piazza Alta, which consists of a total of 431 units. The property is set to undergo substantial construction, with a loan amount of $170,000,000 secured specifically for the second phase of development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $170,000,000
• Lender: Perry Katz - Affinius Capital
• Landlord: Matthew Pestronk - Post Brothers
• Broker: Russell Schildkraut - Ackman-Ziff
• Loan Type: Construction
• Completion Date: 2027

The key individuals in this transaction include Perry Katz, representing Affinius Capital, who provided the construction financing. Matthew Pestronk, representing Post Brothers, is the landlord for this development project. Russell Schildkraut from Ackman-Ziff arranged the loan to facilitate the construction financing for the second phase of the Piazza Alta project.