Updated Oct 28, 2024
Nuveen Real Estate Provides $265.3M Loan For Life Science Property In Philadelphia
601 Walnut Street, Philadelphia, Pennsylvania 19139, United States
$265,300,000
$290/SF
Building Size
912,245 SF
Asset Type
Other
Closing
Aug 23, 2022
About this deal
AI
The property involved in this closed transaction is a life science asset located at 601 Walnut Street in Philadelphia. The property spans approximately 912,245 square feet and is owned by Keystone Development + Investment.
Summary of transaction details:
- Property Type: Life Science
- Transaction Amount: $265,300,000
- Date: 08/24/2022
- Market: Philadelphia
- Lender: Nuveen Real Estate
- Landlord: Keystone Development + Investment - Jamie Rash
The loan amount for this transaction was $265,300,000, provided by Nuveen Real Estate. Jamie Rash, representing Keystone Development + Investment, played a key role in the deal as the landlord's representative.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93