Newmark has arranged a $145 million loan on behalf of Southern Land Company to refinance Josephine, a new 255-unit luxury multifamily property located at 1620 Sansom Street in Center City Philadelphia.
The financing was secured from Affinius Capital by Newmark Co-President, Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Senior Associate Samuel Speciale. The 27-story tower offers luxury rental residences, including penthouse layouts with private terraces.
The property features 5,600 square feet allocated for restaurant use, with Japanese fine-dining restaurant Uchi spanning 4,900 square feet as the anchor tenant. An additional 14,600 square feet on the second floor is suitable for an upscale restaurant and lounge.
Positioned near Rittenhouse Square, Josephine is located within one of Philadelphia’s most established residential and retail corridors, surrounded by high-end shopping, destination restaurants, hospitality venues and cultural institutions. The property offers convenient access to SEPTA bus routes, regional rail service and Suburban Station, providing connectivity throughout the greater Philadelphia region.
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