MILLER REAL ESTATE FUND II REPAYS CMBS LOAN ON PHILADELPHIA'S 401 MARKET STREET
WEST CONSHOHOCKEN, Pa., Nov. 10, 2025 /PRNewswire/ -- The foundational investors in Miller Real Estate Fund II (the "Fund"), a vehicle investing in mixed-use commercial properties in the Philadelphia area, have repaid in full the maturing CMBS loan on 401 Market Street, located along Independence Mall in Center City Philadelphia. The repayment was completed on October 6th, 2025.
With the loan retired, the Fund and its affiliates now hold unencumbered ownership of the property and are developing a strategic repositioning plan that builds on its premier location and enduring intrinsic value.
401 Market Street (101 N. Independence Mall East) is an eleven-story, 523,000 square-foot office tower constructed in 1973. Situated on a 1.8 acre parcel with nearly 200 feet of frontage on Independence Mall – A National Historic Landmark – the property occupies one of the most visible and well-connected sites in the city. Its prominent Independence Mall frontage offers exceptional visibility and signage potential, particularly as Philadelphia prepares to host national celebrations for the 250th Anniversary of the United States in 2026.
Miller Investment Management, LP ("Miller") is an SEC registered investment adviser founded in 1998. Miller manages over $1.8 billion in discretionary assets and advises on an additional $3.8 billion in non-discretionary assets spread across three business lines: real estate, private equity, and public securities. Headquartered outside of Philadelphia with an office in Manhattan, Miller serves as investment manager to the Fund through its wholly owned subsidiary.
Inquiries regarding the property may be directed to:
Matt Ryan
(610) 834 9820 x140
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SOURCE Miller Investment Management