Maverick Funds $47,260,000 First Mortgage Loan for Office Portfolio in Pittsburgh, Pennsylvania
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Maverick Commercial Mortgage secured the funding for a $47,260,000 first mortgage loan for a six-building office portfolio comprising 585,000 net rentable square feet in Pittsburgh, Pennsylvania. A joint venture between JDI Realty and Market Street Real Estate Partners acquired the portfolio in May 2014 and have made significant tenant improvements since then. The non-recourse, 10-year fixed-rate loan amortizes over a 30-year schedule.