PCCP Provides $ 80 Million Loan to Refinance an Office Building in Philadelphia

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123 South Broad Street Philadelphia

The office building at 123 South Broad Street in Philadelphia is 705,500 square feet and was built in 1928.

PHILADELPHIA. PCCP LLC provided a major $ 80 million loan to refinance 123 South Broad Street, a 705,500-square-foot office building located in downtown Philadelphia. The 30-storey building was built in 1928 and is now rented out to 92 tenants. The borrower is a joint venture between SSH Real Estate, Quilvest Capital Partners and Young Capital. Ryan Ade and Jim Cadranell of JLL arranged funding. The ownership will use a portion of the proceeds to fund capital improvements, including the addition of amenities such as a fitness center, rooftop terrace and communal meeting rooms.

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