UMB Bank Provides $409M Fixed-Rate Loan For Development Site In Logan Square, Philadelphia

Located in Logan Square, Philadelphia, the development site at 2000 Arch St has recently undergone a closed transaction. Spanning across 438,000 square feet, this property asset showcases its potential for future growth and development.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $409,000,000
• Date of Transaction: 01/26/2023
• Address: 2000 Arch St
• Market: Logan Square, Philadelphia
• Lender: UMB Bank
• Landlord: Parkway Corp
• Brokers: Austin Johnson & Bill Cavagnaro - JLL

Austin Johnson & Bill Cavagnaro from JLL represented the buyer and seller in this closed transaction. The loan, arranged by UMB Bank, was valued at $409,000,000 and offered fixed-rate, long-term terms. With this transaction, the development site at 2000 Arch St is poised for future growth and enhancement.