Cozen O’Connor: Cozen O'Connor Helps Guide National Real Estate’s $141M Philly Loan

Cozen O'Connor Helps Guide National Real Estate’s $141M Philly Loan

Monday, May 4, 2015

A team of Cozen O’Connor real estate attorneys, led by Howard Grossman, assisted a partnership of affiliates of National Real Estate Development, Young Capital, SSH Real Estate and Joss Realty in its $141 million leasehold mortgage debt financing from Ullico, LLC, an insurance and investment firm. The debt funding, together with the partnership’s significant equity investment, provided all funds required for construction of the $250 million first phase of East Market, a mixed-use urban hub with retail, residential, hotel and office development located in center city Philadelphia. Cozen O’Connor, together with National’s counsel, Difede, Ramsdell, Bender, represents the partnership in all aspects of the redevelopment of the 4.3-acre property just two blocks east of Philadelphia's iconic City Hall.

To read the full article on the partnership, click here (Subscription is required).