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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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SONNENBLICK-GOLDMAN ARRANGES $63 MILLION FINANCING FOR HISTORIC CURTIS CENTER OFFICE BUILDING IN PHILADELPHIA |
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Tuesday, October 21, 2003
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New York, NY
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Sonnenblick-Goldman Company has arranged a $63 million, 10-year fixed-rate mortgage for The Curtis Center, at 124 South 6th Street in Philadelphia, Pennsylvania, on behalf of an affiliate of Oaktree Capital Management, LLC and The Kevin F. Donohoe Company. The financing was provided by an investment banking firm through its securitization program.
The Curtis Center, which contains approximately 840,000 square feet of rentable space, plus a 300-space underground parking garage, is the premier office building in the Independence Square submarket. Major tenants include the United States Department of Labor, Elsevier Science USA, and the law firm, Margolis Edelstein.
The building was constructed between 1909 and 1921 as the headquarters of the Curtis Publishing Company and was extensively renovated into a Class-A office property in the mid-1980s. The building occupies a prominent site that fronts both Independence Square and Washington Square and is also noted for its 10,000-square-foot center court atrium and an original Louis C. Tiffany glass mosaic entitled Dream Garden, which is displayed in the main entrance lobby.
"We are pleased that we were able to assist the owner of this prestigious property in securing flexible and favorable loan terms at historically low interest rates," comments comments Steven A. Kohn, president of Sonnenblick-Goldman Company.
In addition to Mr. Kohn, Sonnenblick-Goldman’s transaction team for this assignment included Andrew S. Oliver, managing director and principal; Mark J. Ehlinger, director; and Alexander E. Hernandez, associate. |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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