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Square Mile Capital Provides $195M Acquisition Loan For Multifamily Property In Philadelphia

1500 Locust Street
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This MultiFamily property located in PA received a loan of $195,000,000 about 2 years ago. The brokers of the deal were Alan Blank, Drew Anderman, and David Bollag

The multifamily property located at 1500 Locust St in Philadelphia has recently been involved in a closed transaction. The property consists of 612 units, making it a significant asset in the local market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $195,000,000
  • Address: 1500 Locust St
  • Market: Philadelphia
  • Units: 612

The acquisition loan for this transaction was provided by Square Mile Capital. Acting as brokers for the deal were Drew Anderman and Alan Blank from Meridian Capital Group.

This transaction signifies the successful collaboration between the buyer, seller, and the lending institution. The involvement of Square Mile Capital as the lender showcases their confidence in the property's potential. With Drew Anderman and Alan Blank representing the buyer, they played a crucial role in facilitating the transaction and ensuring its smooth completion.

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Deals
  • Location
    1500 Locust Street, Philadelphia, Pennsylvania 19102, United States1500 Locust Street, Philadelphia, Pennsylvania 19102, United States
  • Loan Value
    $195,000,000$195,000,000
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 1 Agency, 1 Lender3 Brokers, 1 Agency, 1 Lender

Agents

Drew Anderman

Drew Anderman

Deals29
Financed$3.5B

Agency

Meridian Capital Group

Meridian Capital Group

Agency
Deals2412
Volume$65.9B

Square Mile Capital

Square Mile Capital

Lender
Deals47
Volume$ 465.2B

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Deal Summary

LOAN IMAGE: Alan Blank & Drew Anderman DATE: 01/12/2022 ADDRESS: 1500 Locust St MARKET: Philadelphia ASSET TYPE: Multifamily ~ UNITS: 612 LENDER: Square Mile Capital BROKERS: Drew Anderman & Alan Blank - Meridian Capital Group LOAN AMOUNT: $195,000,000 LOAN TYPE: Acquisition Loan

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1500 Locust Street

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