East-Market-Philadelphia

JLL Arranges $260M Loan for Refinancing of Philadelphia Mixed-Use Development

by Taylor Williams

PHILADELPHIA — JLL has arranged a $260 million loan for the refinancing of East Market, a mixed-use project that spans an entire city block in Philadelphia’s Center City neighborhood. East Market consists of two apartment buildings totaling 562 units, 120,000 square feet of retail and restaurant space and a 100-year-old warehouse that has been redeveloped into creative office space. Chad Orcutt and Blaine Fleming of JLL arranged the loan through Pacific Life Insurance Co. on behalf of the borrower, a joint venture led by National Real Estate Advisors. The developer also plans to convert a traditional office building on the site into a boutique hotel and medical facility.

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