Northmarq’s Debt + Equity team arranges $5.25M construction to permanent financing for Philadelphia multifamily community

Northmarq’s Philadelphia Debt + Equity team led by John Banas and Kris Wood arranged $5.25 million in construction to permanent financing for 15 W. Rittenhouse Street in Philadelphia, Pennsylvania, on behalf of their client.

The tailored financing supports the construction of a five-story, 35-unit multifamily property featuring 11 covered parking spaces and a usable green rooftop deck. The community is conveniently located in the Germantown neighborhood of Northwest Philadelphia.    

Germantown offers excellent access to SEPTA Regional Rail, bus lines and nearby trails, along with a growing mix of shops, cafés and restaurants along Germantown Avenue. Ongoing revitalization and small-business growth are adding new energy and convenience, making it an appealing, community-focused neighborhood with easy commutes, historic charm and a relaxed, affordable vibe.  

“Always a pleasure working with Mayer. I look forward to seeing this project enhance his apartments at 5904 Germantown and the broader Germantown neighborhood, and to what he has planned next,” Banas said.