Eastern Union Arranges $9.7M in Financing for Philadelphia Flex Portfolio
PHILADELPHIA — Eastern Union has arranged $9.7 million in financing for a 218,961-square-foot flex portfolio in Philadelphia. The portfolio consists of three waterfront buildings with both office and industrial space. The financing comprises a $5.2 million acquisition loan and a $4.5 million credit facility to cover renovations and leasing costs. The borrower was a partnership between Michael Bauer of New York City-based BASH Capital and Joseph Cunane of West Chester, Pennsylvania. Marc Tropp of Eastern Union originated the financing.