June 30, 2017 Comments Off on HFF Arranges $65M Equity, Debt for Philly MF Development Views: 580 National News, Northeast, Pennsylvania

HFF Arranges $65M Equity, Debt for Philly MF Development

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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.

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