Paramount Realty Secures $215M for Portfolio Refinance
The firm is refinancing a mixed-use portfolio of 30 retail, medical and office assets in Pennsylvania and Maryland.
BALTIMORE, MD – Paramount Realty has secured a $215 million loan to refinance a mixed-use portfolio, totaling 30 properties.
The portfolio encompasses 1.7 million square feet of retail, medical and traditional office space.
Situated across markets in eastern and central Pennsylvania and Baltimore, MD, the assets include nine grocery-anchored retail centers, nine single-tenant retail properties, four neighborhood retail centers and eight medical and traditional office properties.
JLL capital markets arranged the loan on behalf of the borrower. The firm placed the three fixed-rate loans with Investors Bank, a Division of Citizens Bank, N.A.; Oceans First Bank and Provident Bank.
The JLL capital markets team was led by senior director David Sitt, directors Stephen Van Leer and Eliott Zeitoune, VP Chris Pratt and analyst George Kordahl.
“This was a terrific execution for Paramount Realty and is telling of the financing market’s continued appetite for high-quality retail, backed by premier owners,” states Sitt.