Natixis Corporate & Investment Banking Provides $162.5M Loan For Office Building In Philadelphia
FINANCED
$162,500,000
Pennsylvania
See Similar DealsOffice825,968 SF
Financed 02/16/2022
FINANCED
Natixis Corporate & Investment Banking Provides $162.5M Loan For Office Building In Philadelphia
1600 Market Street, Philadelphia, Pennsylvania 19103, United States
See Similar DealsOffice825,968 SF
Financed 02/16/2022
Summary
PENNSYLVANIA
Asset Type:Office
Price Per Square Foot:$196
Total Square Footage:825,968 SF
Transaction Type:Loan
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
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$162,500,000.00
Monthly NOI$1,083,333.33
Monthly Debt Service$1,027,110.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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