Wednesday, August 24, 2011

Blatstein, Morris, Woodbury apartment projects funded

"$70 million raised for a string of Philadelphia projects in recent months:

- $21 million for Bart Blatstein's Tower Investments' Erbe apartment complex in Northern Liberties, through the Fannie Mae-backed Greystone lending group;

- $17 million for Federal Capital Partners and 806 Capital to convert the mostly vacant Robert Morris building, just north of Comcast Center, from offices into 111 "luxury apartments";

- $10 million for 806 Capital's further renovation of the former Northeastern Hospital as medical offices and labs for Temple University Health Services, on top of a previous investment of roughly the same size;

- $20 million for a bridge loan to help Media-based Capital Health Group build 228-unit Woodbury Mews as senior housing in Woodbury, NJ."

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