Post Brothers, based in Philadelphia, have closed on $103 million in financing to redevelop The Atlantic office building in Philadelphia. Plans call for the 21 story historic building to be redeveloped into a 268-unit luxury multifamily property. Located at 260 South Broad St., the property was designed by Rafael Viñoly to include an adjacent three-story parking garage building with 205 parking spaces. The property will include a business lounge with conference rooms for residents, a clubhouse, and fitness center rooftop swimming pool, and roof deck. Natixis provided the floating-rate, first mortgage financing, which was arranged by Russell Schildkraut and Christine Zivkovic from The Ackman-Ziff Real Estate Group.
“Working with a successful developer like Post Brothers helped make this a great financing opportunity,” Greg Murphy, Natixis’ head of real estate finance Americas, told MHN. “Through vertical integration, Post Brothers handles all business in-house, with expertise in leasing, construction and property management, development, general contracting, transactions and financing.”
