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JLL Secures $173M Loan for Philly’s The Curtis

JLL Capital Markets’ secured a $173.25-million loan on behalf of Conshohocken, PA-based Keystone Property Group to refinance The Curtis, a 912,244-square-foot, mixed-use office, retail and residential building in Philadelphia. TPG Real Estate provided the loan, which will retire existing debt and includes nearly $30 million of future funding to complete construction of 63 residential units and provide capital for future leasing costs for the office and retail space.

Located in the heart of Washington Square at 601 Walnut St., the historic 12-floor property is primed to take advantage of the area’s continued growth. The Curtis also features prime frontage on Walnut Street, one of Philadelphia’s top shopping corridors. The building includes 52,443 square feet of retail, including a soon-to-be opened P.J. Clarkes and a high-end wine and whiskey bar.

JLL’s Chad Orcutt led the financing team.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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