Square Mile Capital Provides $195M Acquisition Loan For Multifamily Property In Philadelphia
FINANCED
$195,000,000
Pennsylvania
See Similar DealsMultiFamily677,140 SF
Financed 01/12/2022
FINANCED
Square Mile Capital Provides $195M Acquisition Loan For Multifamily Property In Philadelphia
1500 Locust Street, Philadelphia, Pennsylvania 19102, United States
See Similar DealsMultiFamily677,140 SF
Financed 01/12/2022
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$288
Total Square Footage:677,140 SF
Transaction Type:Loan
The multifamily property located at 1500 Locust St in Philadelphia has recently been involved in a closed transaction. The property consists of 612 units, making it a significant asset in the local market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $195,000,000
- Address: 1500 Locust St
- Market: Philadelphia
- Units: 612
The acquisition loan for this transaction was provided by Square Mile Capital. Acting as brokers for the deal were Drew Anderman and Alan Blank from Meridian Capital Group.
This transaction signifies the successful collaboration between the buyer, seller, and the lending institution. The involvement of Square Mile Capital as the lender showcases their confidence in the property's potential. With Drew Anderman and Alan Blank representing the buyer, they played a crucial role in facilitating the transaction and ensuring its smooth completion.
Players
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$195,000,000.00
Monthly NOI$1,300,000.00
Monthly Debt Service$1,232,532.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions