DRA Advisors & KPR Centers Secure $55M Financing For Quartermaster Plaza, Philadelphia | 2200 Oregon Avenue | Webster Bank | Blaine Fleming, James "Jim" Galbally, Michael Pagniucci, Michael Gigliotti | Retail | Loan

Summary

Loan

PENNSYLVANIA

Retail

456,208 sqft

The Quartermaster Plaza, a 456,208-square-foot retail property located at 2200 West Oregon Avenue in Philadelphia, was acquired in 2022 for $100.1 million. The shopping center features a diverse tenant mix that includes BJ’s, The Home Depot, and Sprouts Farmers Market, and has been experiencing strong performance in the bustling retail market of Greater Philadelphia.

Summary of transation details:

Property Type: Retail
Transaction Amount: $55,000,000
Market: Philadelphia
Acres: 44
Lender: Webster Bank
Landlord: David Luski - DRA Advisors; Dan Katz - KPR Centers
Brokers: Blaine Fleming, James Galbally, Michael Gigliotti & Michael Pagniucci - JLL
Loan Type: Refinance
Loan Terms: Five-year

The financing deal for Quartermaster Plaza was secured from Webster Bank by DRA Advisors and KPR Centers, with JLL Capital Markets facilitating the arrangement. The property's success in the retail market is attributed to its prime location and the positive leasing activity driven by popular anchor tenants.

Players

All
6

Agents
4
Agencies
1
Lenders
1

Blaine Fleming

Analyst

James "Jim" Galbally

Senior Managing Director

$1.7B Sold

Michael Pagniucci

Director

$73M Sold

Michael Gigliotti

Senior Managing Director, New York Office Co-Head

JLL

Webster Bank

Details

Deal Summary

FINANCED

IMAGE: David Luski, Daniel Katz, Blaine Fleming, James Galbally, Michael Gigliotti & Michael Pagniucci DATE: 02/22/2024 ADDRESS: 2200 West Oregon Avenue MARKET: Philadelphia ASSET TYPE: Retail ~ SF: 456,208 ~ ACRES: 44 LENDER: Webster Bank (@WebsterBank) LANDLORD: David Luski - DRA Advisors; Dan Katz - KPR Centers BROKERS: Blaine Fleming, James Galbally, Michael Gigliotti & Michael Pagniucci - JLL (@JLL) LOAN AMOUNT: $55,000,000 LOAN TYPE: Refinance LOAN TERMS: five-year NOTE: DRA Advisors and KPR Centers secured $55 million in financing from Webster Bank for Quartermaster Plaza, a 456,208-square-foot shopping center in Philadelphia, in a deal arranged by JLL Capital Markets. The property, acquired in 2022 for $100.1 million, boasts a diverse tenant mix including BJ’s, The Home Depot, and Sprouts Farmers Market, with high leasing activity contributing to its strong performance in a retail market buoyed by increased tourism and decreasing vacancy rates in Greater Philadelphia. ;DanKatz

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Address2200 Oregon Avenue

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