Rialto Capital Refis Philly Industrial Property With $119M Loan

A joint venture between Elion Partners and Kadima Industrial Partners has sealed a $118.5 million loan to refinance a newly built logistics asset in Philadelphia, Commercial Observer has learned.

Rialto Capital supplied the floating-rate, interest-only debt on the sponsorship’s 759,460-square-foot industrial warehouse and distribution center at 5000 Richmond Street in Philadelphia’s Bridesburg neighborhood. The property sits on a 0.69-acre lot, less than a mile from Interstate 95.

“Since finalizing construction in Q4 2025, 5000 Richmond has witnessed tremendous leasing demand, with the majority of the building now occupied,” Aaron Malitzky, president of Kadima Industrial Partners (formerly DH Property Holdings), said in a statement. “With a location just minutes from I-95 and Center City Philadelphia, combined with the property’s best-in-class building specifications, we expect the remaining lease-up to be swift.”

Walker & Dunlop negotiated the financing with a team featuring Aaron Appel, Jonathan Schwartz, Dustin Stolly, Adam Schwartz, Keith Kurland, Sean Reimer, Michael Diaz, Michael Ianno and Stanley Cayre.

In addition to its close proximity to I-95, 500 Richmond also benefits from its location 2.4 miles from Tioga Marine Terminal and 10 miles from Packer Avenue Marine Terminal, according to W&D. The property has 759 parking spots and 206 spaces for trailer parking.

 Rialto Capital and Elion Partners did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.