$28MM Retail Acquisition | Philadelphia, PA

Structured and arranged medium-term fixed-rate senior debt for the acquisition of a 224,000-square-foot shopping center located in the Philadelphia Mills retail node of Pennsylvania.


The near-term expiration of several anchors, leases proved challenging to achieving full proceeds. Additionally, the for-profit educational nature of the main anchor made financing difficult due to present political biases towards said tenant class.

$28MM Retail Acquisition | Philadelphia, PA


Worked with the borrower and lender to extend the closing date to enable several anchors to negotiate early renewals. As rates were moving up during closing, negotiated a reduction in required TI/LC reserves (justified by the early renewal of anchor tenants), thereby keeping proceeds flat. Helped research and draft a report for the B piece buyer showing that the current graduating and financial metrics of the school did not endanger it of running afoul of the Department of Education.

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