S hopping C enters
Real Estate Journal — Pennsylvania — Section C
M id A tlantic
Equity, Debt & Structured Finance teamof Alascio, Vankayala &Carpenter III rep. Ivy Realty Cushman &Wakefield arranges $27.5M financing for residential property in Philadelphia, PA P HILADELPHIA, PA — Cushman & Wake- field announced that
units in the building further showcased the high quality build and led to a competitive marketing process. BBVA was able to put forth a custom financing package tailored to meet the needs and business plan of the sponsorship.” 1600 Callowhill Rd. is a brand-new multifamily build- ing located between the City Center and Philadelphia’s Fairmount neighborhood. The property features amodern yet timeless design that pays hom- age to the site’s historical past. Tenant amenities include a rooftop terrace, gym, lounge, parking, concierge, exposed brick and in-unit washers and dryers. Multiple restau- rant offerings are available within close proximity to the property. 40% of the building’s units are leased to Sonder, a short- term rental start-up in nearly 30 cities that recently sur- passed a valuation of more than $1 billion.
HI-LIGHTS SEPTEMBER 13 - 26, 2019 PROCISION COMMERCIAL REALTY REPS. SANDKRIS PROPS. IN SALE OF 2621 VAN BUREN AVE. A Cushman & Wakefield Equity, Debt & Structured Fi- nance team of John Alascio, Sri Vankayala and Noble Carpenter III represented the real estate services firm served as the advisor to Ivy Realty and DW Partners in the procurement of $27.5 million in refinancing for a residential property with re- tail totaling 82,556 buildable s/f at 1600 Callowhill St. in Philadelphia.
1600 Callowhill Rd.
Ivy Realty. The lender in the transaction was BBVA . “Thi s t ransac t i on was unique in that Ivy Realty in partnership with DW Part-
ners delivered differentiated rental product in luxury loft units which leased quickly in the market and lenders who understood the growth in the
sub market were eager to lend on the asset and Sponsorship,” said Alascio of Cushman & Wakefield. “The lease with Sonder for a portion of the
Dermody Properties leases 475,800 s/f at LogistiCenter at 33 in Easton to Radial
EASTON, PA — Dermody Properties leased 475,800 s/f to Radial, Inc. at LogistiC- enter at 33 in Easton. Radial’s presence at Lo- gistiCenter at 33 marks the company’s first on-the-ground fulfillment presence in the state of Pennsylvania. Radial plans to provide nearly 100 management and hourly posi- tions initially, as well as 700 hourly positions later this year to meet customer demand dur- ing the holidays. LogistiCenter at 33 is a 475,800 s/f building, now ful- ly occupied by Radial, located in the Lehigh Valley just minutes from I-78 and Rte. 33. The property’s attractive location near major cities makes it a perfect transporta- tion and warehousing hub for a company like Radial. “The location of this prop- erty is ideal for Radial’s ecommerce, fulfillment and transportation operations, providing proximity to ma-
AG PROJECTS APPROVED FOR FUNDING FROM PIDA
ENDURANCE ANNOUNCES THE SALE OF THE KING OF PRUSSIA INDUSTRIAL PORTFOLIO
LogistiCenter at 33
jor East Coast markets and population centers,” said Eu- gene Preston , east region partner for Dermody Proper- ties. “Eastern Pennsylvania and the Lehigh Valley con- tinue to be an area of focus for us as we aim to provide state-of-the-art facilities in excellent markets for our
customers.” “The continued success of our customers is the impetus of our ongoing commitment to invest in key markets across the country,” said Douglas Kiersey, Jr., president of Dermody Properties. “This property in eastern Pennsyl- vania falls in line with this
strategy, and we’re happy to welcome Radial as the newest addition to our exceptional customer list.” Larry Maister and Jeff Lockard of JLL represented Dermody Properties in the leasing transaction, with Ra- dial represented by William Wolf of CBRE .
Made with FlippingBook Annual report