Post Brothers, a leading real estate development and investment firm, has recently secured a significant refinancing for the first phase of their flagship mixed-use property in Philadelphia, Piazza Alta. The total loan amount of $312 million was provided by Societe Generale and Rockwood Capital, making it the largest single-asset financing for a market-rate property in over 14 months based on MSCI Real Assets data.
According to co-founders Mike and Matt Pestronk from Post Brothers, this exceptional financing is a direct result of the exceptional quality of Piazza Alta. Within just 15 months since its opening, the project successfully leased all 695 apartments and filled up 37,000 square feet of retail space.
The financing was arranged by Ackman Ziff and Piper Sandler. This achievement marks another milestone for Post Brothers as they continue to make waves in the real estate industry with their impressive developments.
