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Line of Credit

7200 Chestnut Street
Upper Darby, PA
80,000 square foot office

This office building, located just blocks from the 69th Street Terminal and Tower Theatre in Upper Darby, was purchased in May 2009 in an all cash transaction. As the sponsor began leasing up the building towards stabilization, they wanted funds with which to pay for tenant fit out costs and leasing commissions. With no cash flow being generated from the property, Llenrock had to find a capital partner who was willing to rely on the sponsor’s strong balance sheet, and one who would be willing to compete with an array of community and regional banks for the best rates and terms… not an easy task in the strained capital market environment in mid 2009. Through its array of capital partner relationships, Llenrock was able to beat the client’s expectations, and close the loan without any hiccups.

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