Updated Oct 28, 2024
PCCP, LLC Provides $500M Loan For Development Site On Schuylkill Ave In Philadelphia
Schuylkill Avenue, Philadelphia, Pennsylvania 19145, United States
$500,000,000
Building Size
—
Asset Type
Development Site
Closing
Jan 25, 2022
About this deal
AI
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.
On the Map
$500,000,000
Development Site
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Players
Philadelphia Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93