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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