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.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., 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, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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

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

Inside The Story

About Dennis Kaiser