National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
HFF Arranges $65M Equity, Debt for Philly MF Development
Early Bird Alert: Connect Apartments is planned September 28th in Los Angeles. Here’s where to get more information and register.
HFF arranged $65 million in preferred equity and construction financing for the development of The Hamilton, a 10-story, 279-unit, luxury apartment building in Philadelphia. HFF worked on behalf of the developer, Wayne, PA-based Radnor Property Group, to arrange both construction financing and preferred equity.
HFF arranged a $48.5-million construction loan from the Santander Commercial Real Estate office in Philadelphia and $16.5-million in preferred equity from an insurance company.
Due for completion in 2018, The Hamilton will consist of studio, one-and two-bedroom floor plans. The initial 279 units will be the first of two phases constructed on a 1.68-acre site at 440 North 15th St.
HFF’s Ryan Ade, Rob Hinckley, David Giancola and Michael Pagniucci represented the developer.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
