Natixis Corporate & Investment Banking originated a $150 million, five-year, floating-rate financing to an affiliate of Philadelphia-based Alterra Property Group for the refinance of LVL North, a recently completed mixed-use, multifamily & commercial property located at the intersection of Broad Street and Spring Garden Street in Philadelphia, Pennsylvania.
The property contains 410 multifamily units, 108,000 square feet of commercial space anchored by Giant, and 289 below-grade parking spaces.
Alterra Property Group is a diversified real estate investment, development and management company based in Philadelphia, Pennsylvania. Since 2005, Alterra Property Group has executed over 100 real estate transactions across 28 states, including the acquisition or the (re)development of over 3 million square feet of real estate comprising over 2,000 apartment units, numerous office buildings, medical office, retail, industrial and senior housing properties.
The financing was arranged by JLL Capital Markets’ Kelly Gaines, Chad Orcutt, and Blaine Fleming.