Newmark Arranges $145M in Financing for Center City Philadelphia MF
Newmark has arranged a $145 million loan on behalf of Southern Land Company to refinance Josephine, a new 255-unit luxury multifamily property located at 1620 Sansom Street in Center City Philadelphia.
The financing was secured from Affinius Capital by Newmark Co-President, Global Debt & Structured Finance Jordan Roeschlaub, Vice Chairman Nick Scribani and Senior Associate Samuel Speciale. The 27-story tower offers luxury rental residences, including penthouse layouts with private terraces.
The property features 5,600 square feet allocated for restaurant use, with Japanese fine-dining restaurant Uchi spanning 4,900 square feet as the anchor tenant. An additional 14,600 square feet on the second floor is suitable for an upscale restaurant and lounge.
Positioned near Rittenhouse Square, Josephine is located within one of Philadelphia’s most established residential and retail corridors, surrounded by high-end shopping, destination restaurants, hospitality venues and cultural institutions. The property offers convenient access to SEPTA bus routes, regional rail service and Suburban Station, providing connectivity throughout the greater Philadelphia region.
Join us on Tuesday afternoon, June 2, 2026, at the Connect Midwest Multifamily Trends Conference as JDL Founder, Jim Leitchinger, is honored with the Changing Skyline Award, followed by an exclusive Keynote Interview. This is a rare opportunity to hear firsthand insights from one of the region’s most influential visionaries in multifamily development.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout