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South Korean financial services firm Hana Financial Group approached MRC to provide the first mortgage loan alongside their $31.1 million mezzanine loan.
The Kendeda Building at Georgia Tech is being built to the rigorous sustainability guidelines of the International Living Future Institute's Living Building Challenge 3.1 standard.
The Blackstone entity acquired the property in partnership with Roman Real Estate Holdings, Inc., according to NAI James E. Hanson, which brokered the deal on behalf of the buyer.
The 105,000-square-foot office building was sold by New York City-based Torchlight Investors to a private real estate investor, according to brokerage firm JLL, which represented Torchlight in the transaction.
Philadelphia now joins San Francisco, New York City, Cleveland and Newark, NJ in the right to counsel movement. Similar legislation is advancing in Detroit, Los Angeles, Denver, and other cities across the country.
Facing the neighborhood staple Fort Tryon Park, plans for the development could include up to 300,000 square feet of both market-rate and affordable residential units.