EB Realty Management has secured $56 million in construction financing for the redevelopment of the Philadelphia Metropolitan Opera House into a live music venue. D2 Capital Advisors, the transaction advisory affiliate of the D2 Organization, arranged the funding through a trio of lenders made up of Fulton Bank, PIDC, Procida, and Enhanced Capital. The 39,200 square foot historic theater was built in 1908 by Oscar Hammerstein I. Once it opens in late 2018, the redeveloped opera house will be operated by Live Nation as the largest concert hall in Philadelphia, with seating capacity of over 4,000.
“Our team was able to identify and structure financing that will enable EB Realty Management to complete this incredible historic revitalization,” said Keith Delaney, President of D2. “We are proud to have contributed in some way to this great project, which is a true catalyst for continued growth of the North Broad neighborhood.”
