C&W Arranges Construction Financing for 1112-1128 Chestnut Street

PHILADELPHIA, PA — Cushman & Wakefield’s Equity, Debt & Structured Finance unit arranged about $52 million of construction financing for The Brickstone Companies and JP Morgan Special Situation Property Fund. The loan is secured by 1112-1128 Chestnut Street, a ground-up, mixed use apartment and retail project located in Center City, Philadelphia, PA.  The five-year, non-recourse floating rate financing was provided by a European bank.

Upon completion, 1112-1128 Chestnut Street will include 112 residential units as well as approximately 90,000 square feet of retail space. The property is centrally located three blocks east of Philadelphia’s City Hall in the Midtown Village neighborhood, which features an eclectic mix of dining establishments, retail offerings, galleries, hotels and major tourist destinations.