Brickstone Cos. has paid $5 million for the Hale Building at 1326 Chestnut St., according to Washington Square Realty Capital, which arranged financing for the acquisition.

Brickstone closed on the ornate seven-story building on Sept. 30 using a bridge loan from Firstrust bank, Washington Square senior director Anthony Franchi said in an email.

The developer has said it plans to renovate the 128-year-old building, designed by the same architect as the Divine Lorraine on North Broad Street, and revamp its upper floors into "creative" office space.

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