University of Arts Portfolio: $74.4M sale arranged for nine-property mixed-use opportunity in Philadelphia

PHILADELPHIA, Jul. 7, 2025 – JLL Capital Markets announced today that it has arranged the $74.4 million sale of the University of Arts portfolio, comprising nine properties in Center City Philadelphia.

JLL worked on behalf of the bankruptcy trustee, Alfred T. Giuliano Trustee, in arranging the buyers for this significant disposition.

The University of Arts portfolio, comprising nine properties totaling approximately 760,000 square feet, is strategically located in the heart of Philadelphia's Central Business District. The properties are primarily situated along the South Broad Street corridor between City Hall and South Street, offering excellent accessibility to public transportation, including the Broad Street Subway Line and regional rail connections at nearby Suburban Station. This prime location provides easy access to major highways such as I-76, I-95 and I-676, connecting the area to Philadelphia International Airport and the broader metropolitan region.

Philadelphia, the nation's 7th largest metropolitan area by population, boasts a diverse and resilient economy anchored by education, healthcare and technology sectors. The city’s thriving arts and culture scene, historic significance and recent revitalization efforts have made it an increasingly attractive destination for young professionals and businesses alike.

The University of Arts portfolio offered a unique opportunity to reshape a significant portion of Philadelphia's CBD. The properties included a mix of educational facilities, theaters, dormitories and office spaces, reflecting the area's rich cultural heritage. Notable buildings in the portfolio included Terra Hall, a 17-story multi-purpose educational facility and Hamilton Hall, the oldest building on Broad Street, dating back to 1824. With flexible zoning allowing for a variety of future uses, including residential, office, retail and hospitality, these properties are well-positioned to capitalize on Philadelphia's ongoing urban renaissance and the growing demand for mixed-use developments in prime urban locations.

JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Directors Jim Galbally and Fran Coyne, Senior Director Samantha Kupersmith, Senior Managing Directors Brett Segal and Carl Fiebig and Director Tyler Margraf. Craig Finger and Chad Lewis of Fox Rothschild LLP served as legal counsel for the transactions.

“There were many unique ideas for the future life of this real estate,” said Kupersmith, “The new uses include multifamily, artist studio space, creative office, recreation and education. We are very excited to see how the assets’ repositioning invigorates South Broad Street.”

The University of the Arts portfolio attracted substantial investor interest, resulting in over 150 confidentiality agreements signed, more than 50 property tours conducted and 87 individual property offers received from 53 unique investors. JLL's team efficiently managed this complex disposition process, finalizing the sale of all nine assets within a condensed timeframe of approximately six months.

"The remarkable interest in this portfolio underscores the strength and diversity of Philadelphia's real estate market," said Galbally. "We're particularly pleased that several properties will maintain their legacy as arts and educational spaces, contributing to the city's vibrant cultural landscape."

"This portfolio sale represents a pivotal moment for South Broad Street's evolution," Coyne emphasized. "The successful disposition of these iconic properties will preserve their architectural significance while introducing new economic drivers to the corridor. The strong investor interest we witnessed throughout this process highlights both the lasting appeal of Philadelphia's core neighborhoods and the confidence in our city's future growth.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Giuliano, Miller & Company, LLC ("GMCO"​) is a certified public accounting and consulting firm. We specialize in bankruptcy and restructuring, litigation support and fraud and forensic investigations. The company provides a broad range of professional services, including accounting, insolvency and restructuring, tax, business valuation, fraud and forensic investigation and tax services.