PHILADELPHIA-Arden Seven Partners, a subsidiary of Arden Group of Philadelphia, has restructured a $38-million loan on the 287,000-square-foot Seven Penn Center at 1635 Market St. in Philadelphia. In December 2010, the loan on the office building was transferred to special servicer LNR Partners.
The maturity date of the loan was November 2011. Under the new terms, the loan will mature in February 2015. The loan has been split into two, $17 million and $21.5 million. Arden has put $2 million in new equity. For the full story, go to Philadelphia Business Journal .
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