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Valley Bank Provides $46.5M Loan For Philadelphia Development Site, Saxeum Real Estate As Landlord

1929-45 East York & 1924-44 East Hagert Street
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This Development Site property located in PA received a loan of $46,500,000 almost 3 years ago. The brokers of the deal were Thomas E. Didio, Jr, Michael Klein, and Ryan Ade

A development site located at 1929-45 East York & 1924-44 East Hagert St. in Philadelphia has recently undergone a closed transaction. The property, consisting of 297 units, was the subject of a loan provided by Valley Bank. The loan amount totaled $46,500,000, and the terms of the loan spanned three years. Saxum Real Estate served as the landlord for this development site.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $46,500,000
  • Units: 297
  • Lender: Valley Bank - Ira Robbins
  • Landlord: Saxum Real Estate - Anthony Rinaldi

JLL represented the parties involved in this transaction, with Thomas E. Didio Jr., Michael Klein, and Ryan Ade serving as the brokers. The success of the deal was facilitated through their expertise and negotiation skills.

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Deals
  • Location
    1929-45 East York Street, Philadelphia, PA, USA1929-45 East York Street, Philadelphia, PA, USA
  • Loan Value
    $46,500,000$46,500,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    3 Brokers, 1 Agency3 Brokers, 1 Agency

Agents

Ryan Ade

Ryan Ade

Deals6
Financed$569.5M

Thomas E. Didio, Jr

Thomas E. Didio, Jr

Deals25
Financed$1.3B

Michael Klein

Michael Klein

Deals43
Financed$1.3B

Agency

JLL

JLL

Agency
Deals5591
Volume$332.6B

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Deal Summary

LOAN IMAGE: Ira Robbins, Anthony Rinaldi, Ryan Ade, Thomas E. Didio Jr. & Michael Klein DATE: 05/12/2021 ADDRESS: 1929-45 East York & 1924-44 East Hagert St. MARKET: Philadelphia ASSET TYPE: Development Site LENDER: Valley Bank - Ira Robbins LANDLORD: Saxum Real Estate - Anthony Rinaldi BROKERS: Thomas E. Didio Jr., Michael Klein & Ryan Ade - JLL LOAN AMOUNT: $46,500,000 LOAN TERMS: three-year loan UNITS: 297

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1929-45 East York & 1924-44 East Hagert Street

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