Barings announced that it has provided a $113 million construction loan alongside $60 million in C-PACE financing from Counterpointe Sustainable Real Estate to Pearl Properties for the development of Harper Square in the Rittenhouse Square neighborhood of Center City, Philadelphia.
“Philadelphia and Center City’s submarket fundamentals are strong, exemplified by Pearl’s highly successful development, The Harper, directly across the street,” said Ryan Naumes, managing director at Barings. “Harper Square stands well positioned to benefit from the positive trends taking place in the city, and Barings is proud to be a partner in this development,”
Harper Square, comprised of 267 luxury apartments, with an unprecedented 75 percent of units featuring private balconies will provide residents with sweeping views of Rittenhouse Square, Center City and beyond. At more than 500 feet tall, Harper Square will be the tallest apartment rental building ever constructed in
