Philadelphia
Liberty Divests Philly Navy Yard Asset to Korean Investors for $130M
Korea Investment Management (KIM) acquired 5 Crescent Drive, a 208,000-square-foot office building in Philadelphia’s Navy Yard submarket from Liberty Property… Read more
New Tax Plan May Boost U.S. Apartment Sector
The recently-enacted U.S. tax reform bill is poised to benefit the U.S. multifamily investment market, according to CBRE. Researchers looked… Read more
Trio’s $100M Investment Consolidates Philly Tower Ownership
Philadelphia-based SSH Real Estate, Young Capital and Luxembourg-headquartered Quilvest Private Equity completed the $100-million recapitalization of the 880,000-square-foot 123 South… Read more
Brandywine Acquires Land for $3.5B Schuylkill Yards Development
Philadelphia-based Brandywine Realty Trust is moving ahead with plans to develop the $3.5-billion Schuylkill Yards project in West Philadelphia. The… Read more
250K-SF Leasing Activity at Rubenstein’s Sanctuary Park in Atlanta
Philadelphia-based Rubenstein Partners, L.P. completed more than 250,000 square feet in leasing activity at Sanctuary Park, a nine-building, 1.6-million-square-foot office… Read more
Aimco Buys Six Philly-Area MF Communities for $445M
Denver-based Apartment Investment and Management Company (Aimco) acquired six apartment communities in the Philadelphia MSA from Philadelphia-based Dranoff Properties, Inc.… Read more
Jackson Heights Retail Sale Sets Local Pricing Record
Marcus & Millichap has arranged the sale of 74-12 to 74-24 37th Ave., a 10,001-square-foot retail property in the Jackson… Read more
Rubenstein Partners Establishes NYC Base
Having been an active investor in New York City office property for several years, Rubenstein Partners is now a tenant… Read more
Most US Warehouses Inadequate for E-Commerce Distribution
Momentum for additional construction of U.S. warehouses is not likely to wane, because the vast majority of the country’s warehouse… Read more
$53.5M Financing Arranged for Philly’s Pod Hotel Construction
Modus Hotels and the Parkway Corporation secured $53.5 million in financing for the construction of a Pod Hotel in Philadelphia,… Read more
Brennan, Sidra Form JV for $159M Industrial Portfolio Recapitalization
HFF arranged the $159.2 million recapitalization of a fully-leased, mission-critical 11-property industrial portfolio totaling 2.77 million square feet in seven… Read more
Philly Housing Project Set for Redevelopment
The Philadelphia Housing Authority (PHA) selected Pennrose to redevelop Bartram Village in southwest Philadelphia. The community-driven neighborhood redevelopment will include… Read more
Hersha Trades Financial District Hotel to First-Time NYC Buyer
Hersha Hospitality Trust has sold the 81-key Hampton Inn Financial District for $32.4 million. The Philadelphia-based hotel REIT didn’t identify the… Read more
Integra Realty Resources Continues National Expansion, Opens Quartet of Offices
Integra Realty Resources (IRR) opened four new offices in Washington, DC, Philadelphia, Northern, NJ and Fort Worth, TX. The moves… Read more
Equity Commonwealth Divests Philly CBD Asset in $160M Deal
Chicago-based Equity Commonwealth sold 1600 Market Street, a 39-story office tower in Philadelphia’s CBD to an affiliate of American Real… Read more
Tracking a Dozen Hospital Developments Bigger Than $300M
Healthcare-related development is booming. According to Dodge Research & Analytics, construction on healthcare facilities climbed 29% in December 2017 over… Read more
$5M for AutoZone-Anchored Retail
An investor paid $5.2 million for the East Haven Shopping Center, a 52,752-square-foot neighborhood shopping center in East Haven, CT.… Read more
Rubenstein Acquires Majority Interest in DC Office Condo
An affiliate of Philadelphia-based Rubenstein Partners, L.P., is acquiring a majority interest in 111 K Street, NE, in Washington, DC… Read more
$110M Financing Arranged for King of Prussia MF
New York City-based Meridian Capital Group arranged $110 million in balance sheet financing for 251DEKALB, a five-building multifamily apartment complex… Read more