Firstrust Bank announced today that it was the agent and lead lender on a $62 million loan to finance the Philadelphia 76ers’ new Training Complex located at Martin Luther King Boulevard and Delaware Avenue in the City of Camden, NJ.  The 125,000-square foot complex includes the team’s new Basketball Operations Facility, the most technologically advanced training center in the NBA, featuring two NBA regulation-size basketball courts with ten baskets, a state-of-the-art hydrotherapy area, an organic player restaurant and more.  The Business Operations Facility will be home to the Sixers Innovation Lab Crafted by Kimball, which focuses on rapidly growing, early stage companies in the consumer space and offers industry-leading executive mentorship and unparalleled resources to start-ups with potential.

Firstrust Bank Chairman and CEO Richard J. Green said of the announcement “Firstrust is very pleased to assist the 76ers with this state-of-the-art practice facility, which will be a competitive advantage for the team and an integral part of their quest to bring Philadelphia a championship.  Firstrust’s real estate capabilities and expertise are second to none, and this is an example of how our talented team can help get complex projects done. By combining forces, Firstrust and the 76ers have contributed greatly to the revitalization of Camden and the surrounding communities.”

“In Firstrust Bank, we have found a bank that has both financing expertise and shares in our passion for bettering the communities in and around Philadelphia” said Philadelphia 76ers CEO Scott O’Neil.  “We look forward to contributing to Mayor Redd’s efforts to revitalize the City of Camden and its communities.”