Alliance Partners secured permanent financing for the leasehold interest in the SoNo building, a 186,000-square-foot, mixed-use property in Philadelphia.
The redeveloped project at 456 N. 5th St. is fully leased to three tenants including Yards Brewing Company, 70,000 square feet; City of Philadelphia's Archives Department, 68,000 square feet; and Target, 48,000 square feet.
"We are pleased to work with our client, Alliance Partners, on the refinancing of their SoNo development. The combination of an exceptional redevelopment, high-quality tenancy and strong sponsorship allowed for easy execution of this financing assignment."
Since inception in 2009, Alliance, the East Coast operating platform of The Shidler Group, has acquired, developed and redeveloped more than $1 billion of commercial properties with acquisition prices ranging from $5 million to $125 million, according to its website.
www.omegare.com
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