$22.5 Million Sub-Performing Office Loan Relationship | Philadelphia, PA

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $22.5 million sub-performing office loan relationship (the “Loan Relationship” or “Loans”) consisting of two sub-performing loans. The Loans are not cross defaulted or cross collateralized and are each secured first-lien mortgages on two office buildings in Philadelphia, PA (the “Properties”, “Property” or “Collateral”). Originated to finance the acquisition of each property in 2017 and 2018, the Loans had an aggregate original balance of $45.3 million. Both Loans have floating interest rates of SOFR + 5.25% and carry a 3.25% rate floor. The Lender has exercised numerous short-term extensions, which extended the Loans maturity date to February 2027.

The Collateral comprises two office buildings constructed in 1916 and 1939. Located in Philadelphia, the Properties feature a combined 336,017 square feet of net rentable area as well as 330 surface parking spaces available. As of October 2026, the Properties had a weighted average occupancy of 63.1% and a weighted average lease term of approximately 4.9 years.