Updated Sep 3, 2026
FINANCEDOffice
CSB Holdings And Tide Realty Secure $50 Million Refinance Loan At 2000 Market Street Philadelphia
2000 Market Street
$50,000,000
$71/SF
Building Size
696,261 SF
Asset Type
Office
Closing
Aug 24, 2026
About this deal
AI
The asset involved in this transaction is an office property located at 2000 Market Street in Philadelphia, PA, encompassing a total square footage of 665,000. The loan amount for this property is $50,000,000 and is classified as a refinance loan with specific terms of a 5-year fixed rate, 2 years interest-only payments, and a 0.5% lender fee. Additionally, there is no prepayment penalty, and a tenant improvement/local leasing facility is included to support future lease-up efforts.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $50,000,000
- Lender: Citadel Credit Union - Christopher Hansen
- Borrower: CSB Holdings + Tide Realty
- Loan Type: Refinance
- Loan Terms: 5yr Fixed, 2yrs IO, 0.5% Lender Fee, No PPP, TI/LC Facility
- Market: Philadelphia, PA
- Brokers: Adrian Edery & Sara Frankel - Two50 Capital Group
Key individuals involved in the transaction include Christopher Hansen representing Citadel as the lender, and the borrowers, CSB Holdings and Tide Realty. The brokerage representation was provided by Adrian Edery and Sara Frankel, emphasizing Two50 Capital Group's active involvement in placing various types of debt across the country and maintaining a robust pipeline of future opportunities.
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93