Basis Investment Group, LLC provides $19.95M bridge loan for mixed-use property in Philadelphia

PHILADELPHIA, PA — Basis Investment Group, LLC (Basis), a CRE debt and equity investment platform founded by CEO Tammy Jones, has provided a $19.95M bridge loan to refinance the existing debt, support the continued stabilization, and fund remaining tenant-improvement and leasing costs associated with Wolff Court. The subject property is a four-story, class A mixed-use development built in 2020, containing 71 multifamily units and 12,660 s/f of ground-floor commercial space fully leased to The Learning Experience, a national childcare and early-education operator, and 57,075 s/f of rentable area, sponsored by GY Properties in Philadelphia’s Fishtown neighborhood.

“Wolff Court represents an opportunity to support tangible impact for Philadelphia residents and communities through the provision of flexible transitional capital,” said Jones. “We’re honored to once again partner with GY Properties, an established and well-respected borrower with generations of expertise and success in the local market, to provide the essential resources to access quality living.”

Wolff Court is strategically located at 501 E. Girard Ave. in Fishtown, one of Philadelphia’s most active residential and commercial neighborhoods. The residential component is currently 95% occupied, and its ground-floor commercial space is fully leased. The transaction represents another financing completed by Basis with GY Properties, a private real estate investment, development, and management firm that has a deep local expertise of the market with approximately 3,800 residential units owned and managed at 97% occupancy across its portfolio.

The property meets a growing demand for housing in the region, offering access to Philadelphia’s distinct culinary, art and musical culture alongside historic institutions for academia, nature, and entertainment.