The Arch, Philadelphia, PA

The Arch

Mezzanine loan and construction management of a broken office conversion into a multifamily property

Asset Summary: 14-story, 111-unit historic building in Center City Philadelphia

Date Closed: July 2011

Investment Strategy:

  • Complex historic tax credit structure successfully implemente
  • “Gut” renovation executed quickly
  • Delivered in just 12 months - on budget, on time
  • Fully leased in six months
  • $25.5 million agency loan in process should generate partial realization of $12.5 million

Exit Strategy:  Repayment from stabilized property refinancing and cash flow