Thursday, May 9, 2013

Berkadia Originates $60M Loan at 1500 Locust

Berkadia Commercial Mortgage LLC arranged a $60 million refinance loan for the owner of 1500 Locust, a 612-unit multifamily building located at 1500-1514 Locust St. in Philadelphia, PA. 

Senior vice president Ernie Katai worked with borrower Capri Capital Partners to secure the 10-year, fixed-rate loan through Fannie Mae. 

Built in 1972, the 45-story apartment building is located in City Center, in the Market Street West submarket. It features studios and one-, two- and three-bedroom apartments. It also includes a sun deck, heated pool, an on-site restaurant and fitness center.

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