{"id":1004641514,"date":"2023-01-27T06:28:01","date_gmt":"2023-01-27T14:28:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004641514"},"modified":"2023-01-27T06:29:32","modified_gmt":"2023-01-27T14:29:32","slug":"d2-organization-refinances-philadelphia-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/","title":{"rendered":"D2 Organization Refinances Philadelphia Office Asset"},"content":{"rendered":"
\"\"<\/a>

1000 Campus Drive. Image courtesy of D2 Capital Advisors<\/p><\/div>\n

D2 Organization<\/strong> has received a $8.5 million loan for the refinancing of 1000 Campus Drive, an 81,400-square-foot office building in Collegeville, Pa.\u00a0D2 Capital Advisors\u2019<\/strong> David Frankel and Jack Cortese arranged the financing through TriState Capital Bank<\/strong>.<\/p>\n

Loan proceeds will be used for tenant improvements, capital expenditures, carry costs and leasing commissions in addition to paying off existing debt. CommercialEdge data shows D2 Organization purchased the property in 2017 with the help of a $10.3 million loan from Fulton Bank, also secured by D2 Capital Advisors.<\/p>\n

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READ ALSO:<\/strong> Sluggish Sales and Refinancings Cast Doubt Over Property Values<\/a><\/p>\n

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Completed on an 18-acre site within the 340-acre Providence Corporate Center, the four-story building used to be fully leased to Iron Mountain. In 2020, the owner came to an agreement with the tenant on a buyout of the lease that had several years left of its term.<\/p>\n

The ownership plans to re-tenant the vacant office building, also having the possibility to build another 80,000-square-foot, on-site property. Cadence Real Estate Advisors<\/strong>\u2019 Brendan Kelley and Ken Kearns are the listing agents.<\/p>\n

Situated 1 mile from Providence Town Center shopping mall, the property is just north of Route 422, providing easy access to downtown Philadelphia.<\/p>\n

In another recent financing deal, TriState Capital Bank has provided Ensemble Investments with funds for the acquisition of two office buildings<\/a> totaling 203,887 square feet in Wayne, Pa. CBRE secured the financing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Loan proceeds will pay off existing debt and fund tenant improvements.<\/p>\n","protected":false},"author":3014,"featured_media":1004641515,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21742,10,21747,1494],"tags":[51846,51654],"class_list":["post-1004641514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-latest","category-northeast","category-office","category-philadelphia","tag-d2-organization","tag-tristate-capital-bank"],"acf":[],"yoast_head":"\nD2 Organization Refinances Philadelphia Office Asset - CPE<\/title>\n<meta name=\"description\" content=\"D2 Organization has received a $8.5 million loan for the refinancing of an 81,400-square-foot office building in Collegeville, Pa.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"D2 Organization Refinances Philadelphia Office Asset\" \/>\n<meta property=\"og:description\" content=\"D2 Organization has received a $8.5 million loan for the refinancing of an 81,400-square-foot office building in Collegeville, Pa.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-27T14:28:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-27T14:29:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/1000-Campus-Drive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/\",\"name\":\"D2 Organization Refinances Philadelphia Office Asset - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/1000-Campus-Drive.jpg\",\"datePublished\":\"2023-01-27T14:28:01+00:00\",\"dateModified\":\"2023-01-27T14:29:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"D2 Organization has received a $8.5 million loan for the refinancing of an 81,400-square-foot office building in Collegeville, Pa.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/d2-organization-refinances-philadelphia-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/1000-Campus-Drive.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/1000-Campus-Drive.jpg\",\"width\":640,\"height\":480,\"caption\":\"1000 Campus Drive. 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