Commercial Real Estate
Healthy, vibrant neighborhoods include the presence of viable commercial real estate assets. This includes amenities such as supermarkets, drug stores, retail shops, restaurants and other businesses. By financing commercial real estate, TRF is working to create and improve these assets in the communities we serve. Commercial real estate projects can also be critical to stimulating market recovery in neighborhoods by creating jobs as well as supporting property values in those same real estate markets.
Among TRF’s largest programs targeting commercial real estate is the Fresh Food Financing Initiative. Created in partnership with the Commonwealth of Pennsylvania, this $80 million initiative supports the creation and expansion of supermarkets in underserved rural and urban communities throughout Pennsylvania.
TRF is also a participant in the federal New Markets Tax Credits program which provides a federal tax credit for investors who invest in businesses and commercial real estate projects located in distressed markets. In 2005, TRF allocated almost all of the $38.5 million in credits it received that year to support commercial real estate projects in three inner city sections of Philadelphia.
Eligible customers
The following are some examples of those who have been eligible for commercial real estate financing through TRF.
- Community-based nonprofits and institutions of place such as universities and hospitals, which are engaged in revitalizing commercial space within their neighborhoods.
- Developers of retail, office, industrial and mixed use properties in underserved communities.
- Developers and operators of supermarkets
- Entrepreneurs who are seeking to purchase, expand or improve the real estate occupied by their business.
Products
The commercial real estate financing products TRF offers include:
- predevelopment and acquisition loans
- construction loans
- permanent and term loans
- leasehold improvement loans
- new market tax credits
For application forms and tools that can help with the financing process, please visit the Resource Center.
Questions? Email CRE@TRFund.com or call 215-574-5800.