Corus Provides $142.5Mln for Philadelphia Condo Project

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A joint venture between P&A Associates and Thomas Properties Group has lined up $142.5 million in construction financing for The Murano, a 302-unit condominium tower in Philadelphia.

The venture received the financing from Corus Bank, a Chicago lender. The fixed-rate loan carries a three-year term, but can be extended for up to one year.

The 43-story Murano will sit at the corner of 21^st and Market streets in downtown Philadelphia. It will have a 304-space parking garage and ground-floor retail.