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HFF Secures Financing for Luxury MF in Center City

PHILADELPHIA—Holliday Fenoglio Fowler secured $45 million in financing for Avenir, a 180-unit, luxury mixed-use apartment and retail tower in Philadelphia.

By Steve Lubetkin | stevelubetkin | Updated on April 15, 2016

Avenir, 1501-1515 Chestnut Street, Philadelphia, PA Avenir, 1501-1515 Chestnut Street, Philadelphia, PA

PHILADELPHIA—Holliday Fenoglio Fowler secured $45 million in financing for Avenir, a 180-unit, luxury mixed-use apartment and retail tower in Philadelphia, being developed by a joint venture between the Scully Co., Alterra Property Group, and Spring Creek Investment Management.

Working on behalf of the joint venture, HFF placed the seven-year, fixed-rate loan with Webster Bank a regional bank in Waterbury, CT, with local offices located in Conshohocken, PA.  Loan proceeds will replace the existing construction loan.

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