Belgravia Management And Bates Mill Co Secure $43.78 Million Refinance Loan From Freddie Mac For 164-Unit Multifamily Asset

The Reyburn is a 164-unit multifamily mixed-use asset located at 3111 West Allegheny Avenue in the Philadelphia, PA market. The property benefits from a Historic Tax Credit (HTC) and a 10-year tax abatement. Prior to its conversion to multifamily use, the asset was a 305,000 square foot office and industrial building occupied by Pep Boys.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $43,775,000
• Loan Type: Refinance
• Loan Terms: 7 Year Term
• Lender: Freddie Mac
• Landlord: Belgravia Management, LP & Bates Mill Co
• Broker Representing: Stephen Van Leer, John Flynn & Michael Pagniucci - JLL

JLL successfully arranged financing through Freddie Mac for this transaction. The deal involved notable professionals in the brokerage sector who played a vital role in securing the loan. Their expertise contributed to the successful completion of this refinancing arrangement for the asset.