St. Albans & Camino Commons

Location: Newtown & Edgemont, PA
Type: Mixed Use
Price: $6,400,000

SMC has provided a $6,400,000 ten-year fixed rate mortgage to refinance existing debt collateralized by Camino Commons, finance the Sponsors’ acquisition of St. Albans, and fund upfront reserves and closing costs. The Properties are situated within four miles of one another and are within 15 miles of the Philadelphia CBD. The Properties are located immediately off of West Chester Pike, a regional east-west arterial that provides direct access to downtown Philadelphia, I-476, and PA Route 252. Significant commercial development has occurred within close proximity to the Properties along West Chester Pike and PA Route 252. Ellis Preserve, a $600 million mixed-use development that will have more than 1.0 million SF of office space and nearly 450,000 SF of retail space, including a 51,700 SF Whole Foods Market, is located within a quarter-mile of St. Albans.