1600 Callowhill St., Philadelphia
PHILADELPHIA—The ownership of the recently built 1600 Callowhill St. mixed-use building here has secured $27.5 million in refinancing funding for the project.
Cushman & Wakefield reports that it served as the exclusive advisor to building owners Ivy Realty of Montvale, NJ and DW Partners of New York City in procuring the refinancing loan from BBVA. A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sri Vankayala and Noble Carpenter III represented Ivy Realty in the transaction.
“This transaction was unique in that Ivy Realty in partnership with DW Partners delivered differentiated rental product in luxury loft units which leased quickly in the market and lenders who understood the growth in the sub market were eager to lend on the asset and Sponsorship,” says C&W’s Alascio.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
