Basis Investment Group, LLC has originated a $19.95 million bridge loan secured by Wolff Court, a four-story mixed-use property in Philadelphia, Pennsylvania. The new financing is being used to refinance existing debt on the asset, support its ongoing stabilization, and cover remaining tenant-improvement and leasing costs.
Wolff Court is located at 501 E. Girard Avenue in Philadelphia’s Fishtown neighborhood. Completed in 2020, the property combines residential and commercial space in a single, recently delivered mixed-use development. The building totals approximately 57,075 square feet of rentable area and is sponsored by GY Properties, a private real estate investment, development, and management firm.
The residential component of Wolff Court comprises 71 multifamily units. According to the sponsor, the apartments are currently 95% occupied, indicating that lease-up is largely complete while providing room for final stabilization. On the commercial side, the property includes 12,660 square feet of ground-floor space, which is fully leased to The Learning Experience, an early childhood education provider.
In announcing the transaction, Tammy K. Jones, Founder and CEO of Basis Investment Group, described Wolff Court as an opportunity to provide flexible transitional capital with the intent of supporting tangible impact for residents and surrounding communities in Philadelphia. The structure of the bridge financing is designed to allow the sponsor to address outstanding tenant-improvement and leasing needs while maintaining momentum at a largely occupied property.
GY Properties, the sponsor of Wolff Court, is based in Philadelphia and focuses on real estate investment, development, and management. The firm reports oversight of approximately 3,800 residential units, with occupancy of around 97% across its broader portfolio. The performance metrics at Wolff Court, including high residential occupancy and a fully leased ground-floor commercial component, align with that portfolio profile as the asset continues to stabilize under the new debt structure.
