Wednesday, August 24, 2011

NAI Bluestone Real Estate Capital Secures $70M in Financing for Philadelphia and PA Projects

PHILADELPHIA, PA--(BUSINESS WIRE)--NAI Bluestone Real Estate Capital, a Philadelphia-based real estate investment banking and advisory firm, has successfully closed five financing transactions in the Greater Philadelphia region totaling approximately $70M in the past 30 days.

In Philadelphia, Bluestone successfully closed $48M in high profile transactions including $21M in permanent financing for Tower Investment’s Erbe Apartment complex in Northern Liberties and $17M in redevelopment financing for the Robert Morris Building (middle left photo) in Center City.
In addition, Bluestone secured an additional $10M in equity financing from 806 Capital for Center City Northeastern, a 280,000 sq. ft. medical office complex located in the Port Richmond area. 806 Capital will join Bluestone as co-general partners of the project.

“Bluestone’s success is rooted in quality relationships with fiscally healthy lenders, investors and clients who have managed to avoid being hurt by the credit crisis,” said Matthew McManus (top right photo), Chairman, NAI Bluestone Real Estate Capital.

 “Lenders today are extremely selective and stringent when it comes to approving, underwriting and structuring loans, which makes attracting financing a particular challenge for borrowers.

“Bluestone’s market knowledge aids its clients in choosing the right capital sources and advises on the appropriate structure to attract the active capital in today’s market.”

NAI Bluestone is part of NAI Global’s managed network, which includes over 5,000 professionals and 325 offices in 55 countries. NAI professionals complete over $45 billion in transactions annually.

For more information please visit

Maven Communications
Rebecca Devine, 215-434-7191

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