PHILADELPHIA, PA — Cushman & Wakefield’s Equity Debt & Structured Finance (EDSF) group has arranged $13.1 million in purchase financing for Ivy Realty’s acquisition of 11200 Roosevelt Blvd. in Philadelphia. The 452,375 s/f industrial asset will undergo a full rebranding under its new ownership.
EDSF team members John Alascio, Sridhar Vankayala and Zachary Kraft headed the financing assignment on behalf of Ivy Realty, ultimately securing Reinsurance Group of America, Inc. (RGA) as the lender.
“Ivy Realty capitalized on a value-add opportunity in a thriving submarket,” Alascio said. “Sustained high demand for industrial product in the Greater Philadelphia/Lower Bucks County region, coupled with our client’s institutional pedigree and track record for successful repositioning projects, led to a competitive marketing process and, ultimately, an excellent execution by RGA.”