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Essex Capital Markets Provides Acquisition Financing for Philadelphia MF
Essex Capital Markets, LLC has closed a $4.15 million acquisition loan for a newly constructed 43-unit multifamily property located in Philadelphia’s University Square neighborhood.
Essex Capital Markets Principal Darragh Griffin and Analyst Quinn Keenan arranged the financing on behalf of a private investment group. The property, known as Haverford Lofts, is a boutique, high-end apartment community featuring a mix of units.
The loan was provided by a regional bank and structured as a three-year term with a fixed interest rate of 5.64%. Located in the heart of West Philadelphia’s rapidly growing University City district, Haverford Lofts offers convenient access to public transportation, the University of Pennsylvania, Drexel University, and a dynamic mix of dining, retail, and cultural destinations.
“Securing the most competitive terms is always our top priority — but a close second is creating the right match for a sustainable, long-term lending relationship,” said Darragh Griffin, Essex Capital Markets President.
