Paves Way for Acquisition and Capital Improvements in Rittenhouse Neighborhood
June 24, 2020 [Philadelphia, PA] – Colliers Capital Markets in Philadelphia is pleased to announce it has recently secured $4,200,000 in funding for acquisition and capital expenditures of two adjoining mixed-use properties in the Rittenhouse commercial district for a private investor.
The two separate but adjoining properties, located between the 19th and 20th blocks of Chestnut are 1935 and 1937 Chestnut Street, featuring upscale noodle shop Stock Rittenhouse and independent women’s boutique Hope’s Chest. Each building has several apartments across three additional floors.
“Deals being done today have to look near perfect – it is a challenge - but we are navigating these challenges nonetheless.” noted Robert Beckman, Senior Finance Director who worked closely to facilitate the transaction.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.