PHILADELPHIA-Federal Capital Partners is providing a $7.5 million in mezzanine debt to 1701 Arch Partners LLC for the renovation and construction of 1701 Arch St. The Robert Morris Building is considered a historic landmark in Center City and will be restored to its former shape.
The 14-story, 111-unit apartment building was constructed circa 1914 and was gutted in 2007 after its purchase, after which has sat empty until now. Walker & Dunlop helped get a $16 million senior construction loan from PNC. PNC also purchased $7.4 million historic tax credits for the property. The capitalizationwill enable 1701 Arch to update the retail streetscape, the terracotta fa
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