BWE, a national commercial and multifamily mortgage banking company, announced today that it has secured first mortgage financing for Brandywine Square Shopping Center, a regional grocery-anchored big box center totaling 607,999 square feet that features a strong collection of retailers in Downingtown, Pennsylvania, part of the Philadelphia metro area.
Kevin Hicks, senior vice president, in BWE’s Philadelphia, PA office, originated the $45,000,000 from a life company on behalf of Allied Properties, a Delaware-based, full-service property management, development, and leasing company.
“When Allied Properties engaged us to source financing for Brandywine Square, we knew they were seeking creative terms that would allow them to execute on their long-term business plan,” said Hicks. “To that end, we ran an auction on their behalf to get them the best possible loan terms, and we were able to lock in the interest rate close to 90 days before closing. By utilizing our comprehensive suite of capital solutions, BWE continues to deliver exceptional results for clients across the commercial asset class spectrum.”
Located less than 35 miles outside of Philadelphia and just off the highly trafficked Route 30, Brandywine Square is anchored by a potent mix of tenants, including grocer Wegmans, BJ’s Wholesale, Dick’s Sporting Goods, DSW, PetSmart, Regal Cinema, and Best Buy.