Fairstead, Castlelake Buy Philadelphia High-Rise With $195M Loan

Located in Center City, the property is at the confluence of three prominent neighborhoods.

 

Square Mile Capital Management has provided a $195 million loan to a joint venture of Fairstead and Castlelake to purchase and renovate 1500 Locust, a 45-story, 612-unit multifamily building with 7,700 square feet of retail space in Center City, Philadelphia.

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