Natixis Corporate & Investment Banking Provides $162.5M Loan For Office Building In Philadelphia
1600 Market Street, Philadelphia, Pennsylvania 19103, United States
$162,500,000
$196/SF
Building Size
825,968 SF
Asset Type
Office
Closing
Feb 15, 2022
AI
The property involved in this closed transaction is an office located at 1600 Market St. in Philadelphia. The office has a total square footage of 825,968. The deal was finalized on 02/16/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $162,500,000
- Address: 1600 Market St.
- Market: Philadelphia
- Landlord: American Real Estate Partners
- Lender: Natixis Corporate & Investment Banking
- Brokers: Ryan Ade - JLL; Cary Abod - Abod Capital
The loan for this transaction was provided by Natixis Corporate & Investment Banking. It is a five-year, floating-rate loan.
Ryan Ade from JLL and Cary Abod from Abod Capital acted as the brokers in this deal, representing the respective parties involved.
Players
Philadelphia Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93