PCCP, LLC Provides $500M Loan For Development Site On Schuylkill Ave In Philadelphia
FINANCED
$500,000,000
Pennsylvania
See Similar DealsDevelopment Site
Financed 01/25/2022
FINANCED
PCCP, LLC Provides $500M Loan For Development Site On Schuylkill Ave In Philadelphia
Schuylkill Avenue, Philadelphia, Pennsylvania 19145, United States
See Similar DealsDevelopment Site
Financed 01/25/2022
Summary
PENNSYLVANIA
Asset Type:Development Site
Transaction Type:Loan
A development site located on Schuylkill Ave in Philadelphia has recently undergone a closed transaction. Covering an area of approximately 1,300 acres, this development site presents a significant opportunity for future projects.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $500,000,000
- Address: Schuylkill Ave
- Market: Philadelphia
- Asset Type: Development Site
- Acres: 1,300
In this transaction, the lender involved is PCCP, LLC, represented by Ryan Dodge. The loan amount secured for this development site amounts to $500,000,000.
The landlord of this property is Hilco Redevelopment Partners (HRP) and Caisse de dépôt et placement du Québec. They are responsible for overseeing the development and future projects on this site.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$500,000,000.00
Monthly NOI$3,333,333.33
Monthly Debt Service$3,160,340.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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