Bolour Associates Provides $8.05M Acquisition Loan For 1420 Pine Street Office

The property at 1420 Pine Street in Philadelphia, PA is an office asset spanning 67,698 square feet. The acquisition loan secured for this asset amounted to $8,050,000, with a 24-month term, facilitated by Bolour Associates. The landlord of this property is MM Partners, and the broker involved in the deal was Daniel Gillard from JLL.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $8,050,000
• Address: 1420 Pine Street
• Market: Philadelphia, PA
• Lender: Bolour Associates
• Landlord: MM Partners
• Broker: Daniel Gillard - JLL
• Loan Type: Acquisition
• Loan Terms: 24 Months

The BOLOUR loan facilitated the acquisition of a seven-story, vacant office building with plans for a multifamily conversion. Clay Goldthwait from Bolour Associates mentions that the lending team's expertise in both lending and development enabled swift evaluation and funding for this project, which aims to introduce new housing options to Philadelphia. For more information on BOLOUR's lending capabilities, Clay Goldthwait can be contacted at ☎️ 323-677-0550 ext.121 or 📧 [email protected].