NEW YORK, NY – October 1, 2026 – GREA’s Capital Services Group arranged $21 million in financing for four separate assets in Pennsylvania.
The financing was negotiated by Ben Schlegel, Senior Director, and Stephen Vorvolakos, Director, in the firm’s New York City-based Capital Services Group. The team secured the loans by leveraging client relationships established by GREA Philadelphia’s Ken Wellar, Founding Partner, alongside Luke DeLuca, Managing Director, and Daniel Yadgaroff, Associate Director.
The transactions included:
- An $8,000,000 acquisition loan for a 52,950 SF, 59-unit student housing complex in Bethlehem, PA. The loan from a credit union included a 15-year term, 5.85% interest rate and 74% LTV. The sale was arranged by the GREA Philadelphia’s Ken Wellar, Founding Partner, and Luke DeLuca, Managing Director.
- A $6,600,000 refinance loan for a 60,000 SF, 57-unit free market multifamily property in Philadelphia. Terms of the bank loan included five years at a 6.63% interest rate and 75% LTV.
- A $3,590,000 refinance loan for a 12,320 SF, 16-unit free market multifamily in Philadelphia. The five-year bank loan featured a 6.37% interest rate and 70% LTV.
- A $2,500,000 refinance loan for a 7,363 SF, 10-unit mixed-use property in Stockertown, PA. The 15-year loan from a credit union offered an interest rate of 5.85% and 50% LTV.
“The Capital Services Group has been highly active across all buckets of capital in the Philadelphia market, and we have seen strong success by running a full process and serving as true advocates for our clients,” Schlegel said.
About GREA
GREA is a full-service national investment sales and capital services platform operating across 13 offices with a 100+ person team and generating $12 billion in recent sales. United by a shared mission, the offices maintain the relentless determination of boutique firms while offering our clients national expertise and reach. For more information, visit www.grea.com.
About GREA Capital Services
Based out of the New York City office of GREA partner, Ariel Property Advisors, the dynamic Capital Services Group has a decade of success arranging financing for over 300 commercial assets including multifamily, affordable, mixed-use, retail, office, hospitality and development properties located throughout the country.