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MORRISTOWN, NJ - JLL Capital Markets announced today it has arranged a $46.5 million construction loan for the development of Fishtown Kensington Village, a 297-unit multi-housing property located in Philadelphia, Pennsylvania. JLL worked on behalf of the borrower, an affiliate of Saxum Real Estate Companies, LLC (“Saxum”), to secure the three-year construction loan through the lender, Valley Bank. Saxum has broken ground in conjunction with the closing of the construction financing. Project completion and lease-up commencement is anticipated in the summer of 2022. The luxury development will include 297 units consisting of 25 artist lofts, 57 studios, 197 one- and 18 two-bedroom units. All units will include in-home washers and dryers, spacious walk-in closets, luxury vinyl tile, gourmet kitchens with stainless steel appliances, ceramic tile backsplashes and quartz countertops. Community amenities will total 10,442 square feet and consist of a co-working café, two ....
Share JLL Capital Markets has arranged a $46.5 million construction loan for the development of Fishtown Kensington Village, a 297-unit multi-housing property located in Philadelphia, Pennsylvania. JLL worked on behalf of the borrower, an affiliate of Saxum Real Estate Companies, LLC, to secure the three-year construction loan through the lender, Valley Bank. Saxum has broken ground in conjunction with the closing of the construction financing. Project completion and lease-up commencement is anticipated in the summer of 2022. The luxury development will include 297 units consisting of 25 artist lofts, 57 studios, 197 one- and 18 two-bedroom units. All units will include in-home washers and dryers, spacious walk-in closets, luxury vinyl tile, gourmet kitchens with stainless steel appliances, ceramic tile backsplashes and quartz countertops. Community amenities will total 10,442 s/f and consist of a co-working café, two club rooms, an industrial kitchen, lounge, tw ....