Nightingale, a private New York investment firm, and WCP, an investment arm of the Republic of Kuwait, are tapping the commercial mortgage bond market to finance Centre Square, a 1.65 million square foot office complex in Philadelphia.

A joint venture between Nightingale and WCP obtained $300 million of financing on the property, which is well known for the Claes Oldenburg Clothespin sculpture in its front plaza. A $240 million first mortgage and a $60 million mezzanine loan; both pay only interest, and no principal for their entire, extended five-year terms.

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