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US: CSC Coliving has acquired the International House Philadelphia dormitory and culture centre tower in University City.
CSC borrowed $33 million to buy and renovate the 14-storey concrete landmark at 37th and Chestnut Streets and expand its interior into 400 apartment units. JLL helped broker the loan.
The sale price was not disclosed.
The building currently has 346 dorm-type units, most arranged in 10-bedroom suites with shared bathrooms, kitchens, and lounges, and 33 apartment-style units. CSC will increase that unit count by converting second-storey office space to apartments after their current occupants leave in 2028, JLL said. Its ground floor will be made available to office or retail tenants.
