Tremont Realty Capital Provides $27M Loan for Refinancing of Industrial Property in Wayne, Pennsylvania

by Taylor Williams

WAYNE, PA. — Tremont Realty Capital, a division of locally based investment firm RMR Group, has provided a $27 million loan for the refinancing of a 138,065-square-foot industrial property in Wayne, a northwestern suburb of Philadelphia. The building at 400 Devon Park Drive was originally constructed in 1969 and features clear heights of 20 to 24 feet. JLL arranged the loan, which was structured with a three-year initial term with two one-year extension options. The borrower was a joint venture between Mainstreet Capital Partners and Contrarian Capital Management.

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