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Radnor Property Group Lands $142M for Philadelphia Community

February 10, 2020 / Jeffrey Steele
SHARESHARESHARE

Radnor Property Group has landed $142.6 million in financing for The Hamilton, a new high-rise apartment community in Philadelphia’s Center City. The core, Class A, two phase building will feature 576 units. JLL Capital Markets worked on behalf of Radnor to secure the financing.  JLL arranged a $70 million floating-rate loan from Mack Real Estate Credit Strategies (MRECS) to retire the existing construction financing. The firm also arranged that financing for the first phase of the development three years ago. In addition, JLL facilitated a $55 million construction loan from Santander Bank and $17.6 million in mezzanine financing, provided by MRECS, for Phase II’s development. Just last week, JLL marketed Village West, a student housing community in West Lafayette, Ind., which sold to Muinzer Management.