Faros Properties Receives $127.5M in Financing for Two Office Properties in Pittsburgh

by Amy Works

PITTSBURGH — Faros Properties has received $127.5 million in financing for Nova Place and 106 Isabella in Pittsburgh. Gerard Sansosti and Nick Matt of HFF secured the five-year, floating-rate loan through Wells Fargo for the borrower. Nova Place is a former urban mall that was converted into office use in the early 1990s. The complex now offers 1.3 million square feet of office space and is 86 percent occupied by a variety of tenants, including PNC Bank, Microbac, Continental Broadband, Confluence, Union Fitness, United Healthcare and Alloy 26. 106 Isabella features 87,050 square feet is a located adjacent to the Warhol.

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