Square Mile Capital Provides $195M Acquisition Loan For Multifamily Property In Philadelphia

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.