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Affinius Capital Provides $170M Construction Loan for Philadelphia Multifamily Project
Affinius Capital has originated a $170 million construction loan to support the development of Piazza Alta Phase II, a 431-unit Class A multifamily project located in the Northern Liberties neighborhood of Philadelphia.
The development, spearheaded by Philadelphia-based developer Post Brothers, will consist of two residential buildings standing 8 and 16 stories tall. Post Brothers is led by Michael and Matthew Pestronk. Financing arrangements were coordinated by Russell Schildkraut of Ackman-Ziff.
“Piazza Alta Phase II will be among Philadelphia’s premier multifamily projects, building on the retail and amenities completed as part of phase one of development,” said Perry Katz, Senior Vice President at Affinius Capital. “This project aligns with our strategy of financing exceptional multifamily assets with top-tier sponsorship, and we look forward to our partnership with Post Brothers.”
Piazza Alta Phase II marks the continuation of the broader Piazza Alta development, which aims to transform the Northern Liberties area into a vibrant residential and commercial hub. Once completed, the project will offer 431 apartment units, including studio, one-, two-, and three-bedroom layouts.
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