Transaction Spotlights

The experts at PNC Real Estate bring you real-world success stories from clients. Contact us to discuss financing solutions — from initial property conception to long-term financing.

 

 


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Trending Accomplishments

PNC Real Estate’s Fast Action on a Complex Deal Delivers for Wharton

PNC Real Estate closed $54 million in financing in 19 days to save an acquisition deal for a new sponsor headquartered in Canada.
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Visionary Housing Concept for Individuals with Disabilities Financed by PNC

PNC Real Estate completed the Low Income Housing Tax Credit transaction to help Access Housing provide newly constructed community-integrated, affordable housing exclusively for people with disabilities, a finalist in the Affordable Housing Finance Readers’ Choice Awards.
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DivcoWest Taps PNC for Acquisition of San Mateo Office Building

DivcoWest acquired 101 Ellsworth, one of only two office buildings constructed in downtown San Mateo, California in the past 15 years. PNC provided financing for the acquisition.
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PNC Delivers a First for Manufactured Housing

PNC Real Estate has provided the first Freddie Mac Revolving Credit Facility secured by manufactured housing communities. The transaction allows the borrower to quickly and regularly access additional loan proceeds as rental collections increase.
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More Client Successes

Recent Transactions

PNC Real Estate Helps Client Remediate Brownfield and Create Campus Housing

PNC Real Estate has provided financing to long-term client North American Properties, Inc. (NAP), to build attractive housing for students at Florida State University (FSU) in Tallahassee, Florida. The project required extensive remediation of a brownfield site near campus and close to a WWII-era airbase.

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PNC Real Estate Delivers a Significant Cash-Out Event for Long-Term Client

When Randolph Street Realty Capital (RSRC) acquired 1819 Lofts in April 2016, it was 100% vacant. By January of 2017 the residential units were more than 97% leased and the commercial spaces were leased. However, the main tenant would not be open for business until the summer of 2017, creating a “near-stabilized situation.” PNC structured a loan that achieved the client’s goals.

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Ridgeleigh Saves with Eco-Conscious Improvements

PNC Real Estate has provided financing to the Klingbeil organization for the purchase and upgrading of The Ridgeleigh at Van Dorn Metro, a 360-unit multifamily property located in Alexandria, Virginia.

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PNC Real Estate Finances Homes for Determined Scholars

Lincoln Grant Scholar House provides stable housing in 45 new affordable units for households with incomes no higher than 50% AMI. It serves single parents who are pursuing higher education and the children counting on them.

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PNC Real Estate Helps Client Pay Off Construction Loan and Solves Interest Rate Dilemma

As RK Investors completed construction and lease-up of its Residences at Brookline multifamily community in Charlotte, North Carolina, the company looked to PNC, its construction lender, for a takeout solution.

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PNC Finances Twin Apartments on Chicago’s Gold Coast

PNC Real Estate has provided financing for American Heritage Investments (AHI) to acquire a pair of high-rise apartment buildings at 65 Scott and 1340 Astor on Chicago’s Gold Coast. AHI will fund renovation costs to improve tenant amenities, bring the buildings up to their full potential and maximize income.

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PNC Delivers Fast on AIMCO’s Revolver Recast

After providing agency and balance sheet financing to Apartment Investment and Management Company (AIMCO) since 2004, PNC Real Estate was awarded a Joint Lead Arranger role on AIMCO’s $600 million REIT Revolver recast following a rapid response to the client’s financing request.

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One Franklin Plaza Brings Luxury Mixed-Use Space to Downtown Philly

When a longstanding PNC Real Estate client discovered the 634,517 rentable square foot property at One Franklin Plaza in Philadelphia, Pennsylvania was available at a very attractive price, the company looked to its trusted lender, PNC, to finance the renovation of the vacant high-rise.

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PNC Real Estate Collaborates with the NHP Foundation to Rehab and Preserve Affordable Housing

The NHP Foundation celebrated its acquisition of Cleme Manor Apartments in November 2014 with great fanfare. The excitement continued to build and in December 2016, the Foundation announced the comprehensive rehabilitation of the community with Mayor Sylvester Turner of the City of Houston and other dignitaries in attendance. PNC provided $18 million in loans for the project.

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