Riverwards Group Secures $37.3 Million Construction Loan For 155-Unit Development In Philadelphia

The property asset involved in this transaction is a multi-family development located at 2507 Almond Street in Philadelphia, PA. The asset encompasses a total square footage of 104,469 and includes 155 units.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $37,300,000
• Lender: Nuveen Green Capital & Silver Heights Capital
• Borrower: Riverwards Group
• Landlord's Representative: Jack Cortese & David Frankel - D2 Capital Advisors
• Loan Type: Construction
• Details of Financing: The financing consisted of a $20M non-recourse senior construction loan combined with $17.3M in C-PACE financing.

The key individuals involved in this deal are Jack Cortese and David Frankel, both from D2 Capital Advisors, who arranged the construction financing for the project. D2 Capital Advisors specializes in arranging debt and equity financing across various asset classes nationwide.