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Rubenstein Secures $63M for Lower Makefield Corporate Center Acquisition
Affiliates of Philadelphia-based Rubenstein Partners acquired Lower Makefield Corporate Center, an eight-building, 467,000-square-foot office complex in Yardley, PA. Cushman & Wakefield’s Equity Debt & Structured Finance group arranged roughly $63 million in purchase financing for the Southern Bucks County property.
Cushman & Wakefield’s John Alascio, Alexander Hernandez, Sridhar Vankayala and TJ Sullivan headed the assignment on behalf of Rubenstein Partners, which purchased the asset from American International Group.
Lower Makefield Corporate Center offers a distinctive combination of high-quality office product at an attractive basis, strong sponsorship, and positive leasing momentum – in a market defined by consistently appreciating fundamentals. Alascio says, “These factors generated significant interest from the financing market.”
Rialto Capital Management provided separate mortgages for the property’s two distinct campuses on Stony Hill and Township Line roads.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition
