Axiom Capital Corporation announces the closing of a $36,000,000 permanent loan for the refinance of a 276,815 SF office/retail building in the heart of Philadelphia, PA. The property is a 22-story high end class B+ office building with retail on the lower level and a 54,000 SF attached garage. Overall occupancy at the property at the time of closing was more than 93%. The building is newly renovated with over $11 million in capital improvements made over the past few years including façade and lobby renovations, new elevator system, new HVAC, windows, lighting, roof, hallways, and restrooms. The improvements to the building as well as its location in Philadelphia’s downtown retail corridor make it an ideal location for smaller to mid-sized tenants.
Commercial Real Estate Finance & Advisory