KeyBank Provides $44.7 Million Refinancing for Two Buildings in Philadelphia

by Katie Sloan

Philadelphia — KeyBank Real Estate Capital has provided a $44.7 million refinancing for two buildings in the Art Museum neighborhood of Philadelphia.

The properties total 241,884 square feet and include one single-story retail building leased to Target and one adjacent, six-story office and retail building called Rodin Place. Together, the properties cover a city block. John Christen of KeyBank arranged the CMBS first mortgage loan with a 10-year term, five years interest only followed by a 30-year amortization schedule.

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