Southern Land Secures $70M Loan For The Laurel Rittenhouse Square In Philadelphia

Southern Land Company has secured $70 million in financing for its 48-story residential tower, The Laurel Rittenhouse Square, located at 1911 Walnut Street in Philadelphia. The loan, provided by Northwind Group, will enable the completion of condo sales in the city's tallest residential tower. So far, 34 out of the 65 units have been sold.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $70,000,000
• Address: 1911 Walnut Street
• Market: Philadelphia
• Units: 65

The Laurel Rittenhouse Square, a 48-story residential tower, is being developed by Southern Land Company and financed by the Northwind Group. The project has already completed the sale of 34 out of its 65 units, indicating strong buyer interest. The tower is set to become an iconic landmark in Philadelphia's skyline.