J.G. Petrucci Co. Receives $25M in Refinancing for Multifamily Property in Philadelphia

PHILADELPHIA — J.G. Petrucci Co. has received a $25 million loan for The Station at Manayunk, a multifamily property located at 1 Parker Road in Philadelphia’s Manayunk neighborhood. Jon Mikula of HFF arranged the 15-year loan with Principal Real Estate Investors. Loan proceeds were used to refinance the construction loan on the property. Completed in 2014, the property features 149 units with open-concept floor plans, nine-foot ceilings, walk-in closets, private patios or balconies, washers and dryers, faux wood flooring and gourmet kitchens. Community amenities include a fitness center, bike share program and outdoor spaces with grilling stations.