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

Summary

Loan

PENNSYLVANIA

Office

67,698 sqft

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].

Players

All
3

Agents
1
Agencies
1
Lenders
1

Details

Deal Summary

FINANCED

IMAGE: Daniel Gillard, Hiren Naik & Clay Goldthwait DATE: 03/01/2024 ADDRESS: 1420 Pine Street MARKET: Philadelphia, PA ASSET TYPE: Office ~ SF: 67,698 LENDER: Bolour Associates LANDLORD: MM Partners BROKER: Daniel Gillard - JLL (@JLL) LOAN AMOUNT: $8,050,000 LOAN TYPE: Acquisition LOAN TERMS: 24 Months NOTE FROM LENDER: This BOLOUR loan helped a developer acquire a seven-story, vacant infill office building for a planned multifamily conversion. Our team’s experience in both lending and development allowed us to quickly evaluate and provide funding for this opportunity, which will bring new housing options to the heart of Philadelphia. Contact Clay Goldthwait at ☎️ 323-677-0550 ext.121, 📧 [email protected], or visit bolourassociates.com/lending/ for more on how BOLOUR can fulfill your lending needs. BOLOUR is an asset-based bridge lender specializing in urban infill primary & secondary markets. BOLOUR draws from our experience in investment & development to tackle complicated private lending deals. We can finance up to 75% LTV, loan term up to 2 years, loan amount from $3 million to $30 million, & interest rates starting at 9.50%.

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Address1420 Pine Street

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