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The class A multifamily development is sponsored by GY Properties Basis Investment Group closes $43M bridge loan for Philadelphia multifamily
ISSUE HIGHLIGHTS Volume 38, Issue 6 June 2026
HILADELPHIA, PA — Basis Investment Group, LLC (Basis) , a national commercial real estate debt and equity in- vestment platform founded by CEO Tammy Jones , has provided a $43 million bridge loan to refinance the existing construction loan supporting the lease-up of the Residences at Pier 40. The subject property is a newly constructed, 195-unit class A multifamily development sponsored by GY Proper- ties on the Delaware River waterfront in Philadelphia’s Northern Liberties neighbor- hood. The Residences at Pier 40 is located at 933 North Penn St. in one of Philadel- phia’s strongest and most desirable rental submarkets. With nearly four decades in P
said Jones. “We’re proud to have partnered with GY Properties, an established and well-respected borrower with generations of expertise and success in the local mar- ket.” The property meets a growing demand for housing in the region, offering conve- nient access to Philadelphia’s Center City district, along with historic cultural and academic institutions, green space, transit, entertainment, and dining options. Resident amenities include private balconies in select units with waterfront and skyline views, in-unit washer/dryers, gour- met kitchens with stainless steel appliances and quartz countertops, along with cov- ered parking, fitness center, game room, and controlled building access. MAREJ
SPOTLIGHTS
CREATIVE FINANCE 3-4 THRIVING UNDER 30
5-7
DELAWARE
8-10
Residences at Pier 40
managed at 97% occupancy across its portfolio. “Our involvement in the Residences at Pier 40 offers a unique opportunity to in- vest in a class A asset with strong cash-flow potential in one of the region’s most sought-after submarkets,”
operation and $1 billion in assets under management, the property’s sponsor, GY Properties, a private real estate investment, develop- ment, and management firm, boasts a deep local expertise of the market with, 3,800 residential units owned and
Delaware’s Commercial Real Estate 2026 Update
Robert Filley, Haris Hanifi, Adrian Mendoza & Brian Hosey rep. seller, procure buyer Marcus & Millichap closes $42 Million sale of industrial assemblage in Manassas, VA
Jay L. White, MAI, CRE®
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UPCOMING CONFERENCES 5 th Annual Delaware Commercial Real Estate Forecast Conference July 9, 2026 For speaking & sponsorship info., please contact: Lea at 781-740-2900 or lea@marejournal.com
MANASSAS, VA — Mar- cus & Millichap announced the sale of two adjacent indus- trial properties in Manassas for $42 million. Located within Northern Virginia’s data center corridor, the properties comprise 14 acres of industrial-zoned land with long-term data center redevelopment potential. The transaction included the sale of Goode Business Center, a two- building, 135,000 s/f industrial storage and manufacturing
Haris Hanifi
Robert Filley
Manassas, VA Industrial Portfolio
senior managing director in- vestments with Marcus & Mil- lichap. “This transaction reflects the continued convergence of industrial real estate, power availability, land scarcity, and long-term data center demand.” Robert Filley, Haris Hanifi, and Adrian Mendoza of Mar- cus & Millichap, in association with Brian Hosey , the firm’s broker of record in Virginia, rep- resented the seller and procured the buyer. “What made this transac- tion unique was the strategic assemblage of the two adja-
cent parcels,” said Hanifi, as - sociate director investments with Marcus & Millichap. “The original 10-acre site alone had limitations, but by incorporating the neighboring four-acre parcel, the combined 14-acre site created a stronger long-term redevelopment op- portunity in one of the coun- try’s most competitive data center markets.” Located near major trans- portation corridors, the prop- erties offer strategic access to Northern VA’s industrial and data center market. MAREJ
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Adrian Mendoza
Brian Hosey
Thriving Under 30.......................................................3-4 Creative Finance . ........................................................ 5-7 DelMarVa featuring Delaware...................................8-12 CIRC Delaware Chapter................................................12 New Jersey featuring Northern NJ...........................13-20 Pennsylvania featuring Northeastern PA.................21-23 Owners, Developers & Managers............................24-33 People on the Move.....................................................34 CRE Organization’s Events Calendar .............................. 35 www.marej.com
complex located on 10 acres at 12269 Livingston Rd., and Atlantic Building Supply, an 18,000 s/f industrial warehouse facility located on nearly four acres at 12249 Livingston Rd. “Northern Virginia remains the largest and most active data center market in the world, and infrastructure-sensitive industrial land in this corridor continues to attract significant interest,” said Robert Filley,
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