Bank OZK Provides $72.3M Senior & Mezzanine Loan For Philadelphia Development Site

Located in Philadelphia, the development site at 900-18 North 8th St. & 900 North Darien St. has recently undergone a closed property transaction. The property, owned by Post Brothers, attracted the attention of lenders and investors for its potential. Bank OZK and Lionheart Strategic Management LLC, represented by Andy Klein, provided a loan for the development.

Summary of transaction details

• Property Type: Development Site
• Loan Amount: $72,280,000
• Lender: Bank OZK ; Lionheart Strategic Management LLC - Andy Klein
• Landlord: Post Brothers
• Market: Philadelphia

The loan, consisting of a senior and mezzanine loan, was instrumental in financing the development project at 900-18 North 8th St. & 900 North Darien St. Bank OZK and Lionheart Strategic Management LLC recognized the potential of the property and provided the necessary financial support.