Head House Flats
528 S 2nd St, Philadelphia, PA, 19147-2452, US
47 units
Attributes
Current Principal Balance
$5,760,000
Unpaid Principal Balance
$4,383,792
Origination Date
June 2022
Maturity Date
June 2029
Occupancy (As of 9/8/2026)
20.00%
No. of Units
65
Call for offers
12/14/2026
Description
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a non-performing multifamily loan (the “Loan”). The Loan is secured by a first lien mortgage on Mark Twain Apartments (the “Property”).
The property is a 65-unit, four-building multifamily property at 367-381 Farmington Avenue in Hartford, Connecticut. The Property totals 41,750 in NRA and 35% occupied as of January 2026.
The Loan was originated in June 2022 with an original principal balance of $5.8 million, a seven-year term and a fixed rate of 3.46%. In May 2026, the Loan was fully accelerated follow by a complaint seeking foreclosure and the appointment of a receiver. Subsequently, a receiver was appointed in August 2026 which has been approved. As of October 14, 2026, the Loan has an unpaid principal balance of $5.4 million
The offer presents investors the opportunity to acquire a non-performing Loan at a significant discount to replacement cost with a potential path to ownership.
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Investment highlights
Strong Submarket Fundamentals
The Property is located in strong multifamily submarket including an average vacancy rate of approximately 6%.
Strategic Location with Excellent Connectivity
The property is located directly across Farmington Avenue from Hartford Highschool, a 10-minute drive to St. Francis Hospital, one of several large nearby employers, and just one mile of Interstate 84 which provides connectivity and easy access to surrounding metros.
Repositioning and Lease-up Opportunity
The Property is 46% occupied, presenting an investor with an opportunity to implement accretive lease up strategies.
In Place Receiver & Foreclosure Process Initiated
Official foreclosure filings have been submitted and a court ordered receiver is in place.
Potential Path to Ownership
The non-performing Loans provide investors with a potential path to title at a significant discount to replacement cost.
Media
Mark Twain Apartments | Non-Performing Loan Sale (0 Properties)
