PHILADELPHIA-Arden Seven Partners, a subsidiary of Arden Groupof Philadelphia, has restructured a $38-million loan on the287,000-square-foot Seven Penn Center at 1635 Market St. inPhiladelphia. In December 2010, the loan on the office building wastransferred to special servicer LNR Partners.
The maturity date of the loan was November 2011. Under the newterms, the loan will mature in February 2015. The loan has beensplit into two, $17 million and $21.5 million. Arden has put $2million in new equity. For the full story, go to Philadelphia Business Journal .
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