REBusinessOnline

123 SOUTH BROAD STREET REFINANCED IN PHILADELPHIA

PHILADELPHIA — A joint venture between SSH Real Estate Group and Young Capital has refinanced its condominium interest at 123 South Broad Street, an 880,000-square-foot office building located in Philadelphia. The condo, known as Unit II, consists of floors six through 30 and totals approximately 620,000 square feet. The loan carries a 10-year term and a fixed interest rate. Matthew Pestronk of The Ackerman-Ziff Real Estate Group arranged the loan on behalf of the owners through Citigroup Global Markets Realty Corp. The loan will be contributed to an $876.5 million CMBS offering.

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