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Rittenhouse Capital Advisors Arranges $4,000,000 Acquisition Loan for Commercial Parcel in Northeast Philadelphia

/EIN News/ -- PHILADELPHIA, July 25, 2017 (GLOBE NEWSWIRE) -- Rittenhouse Capital Advisors announced today that it arranged $4,000,000.00 in acquisition financing for a commercial parcel which is under a long-term lease with convenience store chain Royal Farms. The parcel is located in the Bridesburg section of Northeast Philadelphia.

Philadelphia Commercial Parcel
Philadelphia Commercial Parcel with Long-Term Lease to Royal Farms

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Rittenhouse Capital Advisors

A photo accompanying this announcement is available at

The financing, placed with a bank balance sheet lender, provided a 7-year fixed rate at 4.15% with a 10-year term and a 20-year amortization. The loan also featured limited recourse and a highly flexible prepayment structure. 

In spite of the tight timing requirements of the sales contract, along with the buyer's tight window to complete a 1031 tax-free exchange, Rittenhouse Capital was able to manage a closing process that was completed within 25 business days. Sam Oropeza, a recent addition to the Rittenhouse debt team, was instrumental in helping to make the deal happen. Rittenhouse Capital's President & CEO, George Johnson, stated: "This loan was a great example of our ability to deliver terms for our client that aligned perfectly with their objectives.  Additionally, while RCA is perhaps best known for placing multi-family debt, this loan is another great example of our of ability to deliver for our clients who own commercial properties as well.”

Rittenhouse Capital Advisors is a debt and equity firm based in Philadelphia, PA.  Our Underwriting & Lending Expertise covers the full range of commercial real estate assets, including but not limited to: multi-family, student housing, industrial, retail, and healthcare throughout the United States.

Press Contact: George Johnson
President & CEO