HFF Arranges $88M in Financing for 282-Unit Apartment Complex in Philadelphia

PHILADELPHIA — HFF has arranged $88 million in financing for The Left Bank, an apartment complex in Philadelphia. The firm placed the five-year, fixed-rate loan with a regional community bank for the borrower, Dranoff Properties. Located at 3131 Walnut St., The Left Bank features 282 apartment units in a mix of studio, one-, two- and three-bedroom layouts averaging 971 square feet. Community amenities include a lobby, sky deck, landscaped courtyard, fitness center, business center, community conference rooms, clubroom with catering kitchen, bike storage and 24-hour concierge service. The property also includes 98,707 square feet of office space and 22,605 square feet of retail, both of which are 100 percent occupied. Jim Cadranell and Ryan Ade of HFF arranged the financing for the borrower.