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Friday, May 16, 2008
Wachovia: $50M for Palomar on Rittenhouse
  Kimpton Hotels & Restaurants, San Francisco, says Wachovia Bank has agreed to lend $50 million to turn the Architect’s Building, 117 South 17th St., near Rittenhouse Square, into a 230-room Hotel Palomar, with a ground-floor restaurant and bar, to open in late 2009. Cushman & Wakefield Sonnenblick Goldman, New York, arranged the loan for Kimpton.
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About Joseph N. DiStefano
Your source for M&A, commercial real estate and private equity news in Philadelphia and nearby. By Inquirer business reporter Joseph N. DiStefano. Joe has worked for the Inquirer, mostly, since 1988. Last year he covered Citigroup for Bloomberg News. He's the author of Comcasted, a book about Philadelphia’s most-valuable company. He holds a degree in economics from Penn.