Parkway Corporation Secures $187M Loan For Office Building At 2222 Market Street
FINANCED
$187,000,000
+ 1
Pennsylvania
See Similar DealsOffice305,000 SF
Financed 08/06/2020
FINANCED
Parkway Corporation Secures $187M Loan For Office Building At 2222 Market Street
2222 Market St, Philadelphia, PA 19103, USA
See Similar DealsOffice305,000 SF
Financed 08/06/2020
+ 1
Summary
PENNSYLVANIA
Asset Type:Office
Price Per Square Foot:$613
Total Square Footage:305,000 SF
Transaction Type:Loan
The office property located at 2222 Market Street in Philadelphia, PA was involved in a closed transaction. The loan image includes Morris Betesh, Ronnie Levine, Thomas Wayda, Phil Galligan, and Omar Ferreria.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $187,000,000
- Address: 2222 Market Street, Philadelphia, PA
- Market: Philadelphia, PA
- Landlord: Parkway Corporation
- Lender: citizens''>Citizens Bank, Santander, ACORE
The financing for the transaction included a senior loan provided by a syndicate of lenders, led by Citizens Bank and also involving Santander and ACORE.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$187,000,000.00
Monthly NOI$1,246,666.67
Monthly Debt Service$1,181,967.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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