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JLL Arranges $33.3M in Financing for Multifamily Redevelopment Project in Philadelphia

3701-Chestnut-Philadelphia

The development team hopes to complete the conversion of 3701 Chestnut in Philadelphia by next summer.

PHILADELPHIA — JLL has arranged $33.3 million in financing for International House, a project that will convert a 14-story office building located at 3701 Chestnut St. in Philadelphia into a 400-unit apartment complex. The borrower, CSC Coliving LLC, will use the funds to acquire the 1.3-acre site, which is located in the University City area, and to begin construction. The two lowest floors will continue to house office and retail users. Chad Orcutt and Blaine Fleming of JLL arranged the financing through PostRoad Group. Completion is slated for summer 2021.

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