Ivy Realty, DW Partners secure $27.5m in refinancing for Sixteen Hundred Lofts
Ivy Realty and DW Partners secured a $27.5m refinance loan for Sixteen Hundred Lofts in Philadelphia. The 82,556 sq ft building includes 95 units ranging in size between 504 sq ft and 1,225 sq ft. Amenities include a rooftop terrace, gym, lounge, parking and concierge. Short term rental company Sonder currently leases approximately 40 percent of the property. Cushman & Wakefield arranged the funding for the borrowers through BBVA.