Newmark has arranged a $145 million refinancing loan on behalf of Southern Land Company for Josephine, a newly delivered luxury multifamily tower in Center City Philadelphia. The 27-story property, located at 1620 Sansom Street, comprises 255 rental residences and represents a significant multifamily asset in one of the city’s most established urban neighborhoods.
The financing was placed with Affinius Capital. Newmark’s capital markets team on the assignment included Co-President, Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Senior Associate Samuel Speciale, who secured the loan for the sponsor.
Josephine offers a mix of luxury apartments, including penthouse residences with private terraces on the upper floors. While specific unit configurations were not disclosed, the tower’s residential program is positioned at the higher end of the Center City rental market, with an emphasis on premium layouts and private outdoor space on select units.
The property also incorporates a notable restaurant component. A total of 5,600 square feet is allocated for restaurant use, anchored by Uchi, a Japanese fine-dining concept that occupies 4,900 square feet. In addition, an extra 14,600 square feet on the second floor is designated as suitable for an upscale restaurant and lounge, adding a substantial food-and-beverage element to the project.
Situated near Rittenhouse Square, Josephine is embedded in one of Philadelphia’s most established residential and retail corridors. The surrounding area features high-end shopping, destination restaurants, hospitality venues and cultural institutions, reinforcing the building’s position within a mature, amenity-rich urban environment.
Transit access is a key component of the property’s offering. Residents and visitors have convenient connections to SEPTA bus routes and regional rail service, as well as proximity to Suburban Station. This transit connectivity links the property to the broader Philadelphia region and supports both the residential and restaurant components of the asset.
