$66.5 Million Mixed-Performance Multifamily Loan Relationship | Philadelphia, PA

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $66.5 Million Philadelphia Loan Portfolio (the “Loan”, “Loans”, or “Loan Portfolio”) consisting of three mixed-performance loans. The Loans are secured by first-lien mortgages on one multifamily property and two student-housing properties in Philadelphia, PA (the “Property”, “Properties”, or “Collateral”). Originated to the same Sponsor in March, May, and June 2022, the Loans had an aggregate original balance of $66.5 million. In March 2025, one of the Loans collateralized by the student-housing property became non-performing via a payment default. The Loans mature in July 2032, June 2034, and April 2024. With interest rates resetting in June 2027, March 2029, and May 2029, as of June 2025, the aggregate unpaid principal balance stands at $66.5 million.

The Properties are comprised of one multifamily property and two student-housing properties. The student housing Properties were constructed in 1915 and 2010, and the multifamily Property was constructed in 1958 and renovated in 2010 via a conversion from office to multifamily. Located in Philadelphia, PA, the Properties feature 204 multifamily units and 84 student housing units (198 beds). As of February 2025, the multifamily Property was 90.2% occupied, and the student housing Properties had a weighted occupancy of 81.8%.

The offering presents investors the opportunity to acquire a mixed-performance loan portfolio collateralized by high-quality multifamily and student housing properties in a prime urban location.