PHILADELPHIA, PA — JLL Capital Markets has arranged financing totaling $142.6 million for The Hamilton, a core class A, two-phase, 576-unit high-rise apartment building in Center City, Philadelphia.
JLL worked on behalf of Radnor Property Group to secure a $70 million, floating-rate loan from Mack Real Estate Credit Strategies (MRECS) to retire the existing construction financing, which the JLL team arranged in 2017 for the first phase of the development. Additionally, JLL arranged a $55 million construction loan from Santander Bank and $17.6 million in mezzanine financing, which was also provided by MRECS, for the development of Phase II of the property.