Rubenstein Partners Secures $127 Million Refinance For Chesterbrook Office Campus From Waterfall Asset Management

The transaction involved a refinancing for a 1.1 million square foot office campus located at 1300, 1325, 1400 Morris Drive, 851 Duportail Road, 955, 965, 725, 735 Chesterbrook Boulevard, and 600, 601, 620, 640, 690 & 701 Lee Road in Chesterbrook, PA. The total loan amount for the refinance was $127 million. This office property, consisting of 14 buildings, has undergone significant capital improvements and strategic leasing efforts.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $127,000,000
• Market: Chesterbrook, PA
• Lender: Waterfall Asset Management
• Landlord: David Rubenstein - Rubenstein Partners
• Broker Representatives: Doug Rodio, Jerry Kranzel, Bruer Kershner, Shawn Rosenthal, Jason Gaccione, Jake Salkovitz & Justin Helbling - CBRE

Rubenstein Partners secured the refinancing with funds from Waterfall Asset Management, alongside new equity contributed by Rubenstein and other third parties. The financing is intended to support ongoing capital improvements and long-term investments in the property, which has already seen over $50 million in upgrades, including the development of The Circuit amenity center.