Unknown Acquires 236277 SF Property At 9908 Roosevelt Blvd Philadelphia With Seller's Reps JLL

The property asset involved in the transaction is Red Lion Plaza, a shopping center located at 9908 Roosevelt BLVD, Philadelphia, Pennsylvania. The asset encompasses a total area of 236,277 square feet and was constructed in 1962, with an expansion completed in 2021. At the time of sale, the property was 97 percent leased, featuring tenants such as Burlington, Ross Dress for Less, Pep Boys, Planet Fitness, Mattress Firm, Panera Bread, Aspen Dental, and Tropical Smoothie Café.

Summary of transaction details:

• Property Type: Shopping Center
• Transaction Amount: Not Disclosed
• Address: 9908 Roosevelt BLVD, Philadelphia, Pennsylvania
• Market: Philadelphia
• Square Footage: 236,277
• Seller's Representative: Christopher "Chris" Munley (JLL), Colin Behr (JLL), James "Jim" Galbally (JLL)
• Buyer: Unknown
• Seller: Partnership between Finmarc Management Inc. and KPR
• Acquisition Financing: Arranged through a regional bank
• Loan Structure: Nonrecourse loan with a 12-year term and fixed interest rate

Jim Galbally, Chris Munley, and Colin Behr of JLL represented the seller in the transaction. Michael Pagniucci of JLL was responsible for arranging the acquisition financing for the undisclosed buyer. The partnership involved in the sale included Finmarc Management Inc. and New York City-based KPR.