June 7, 2000 PHILADELPHIA – Granite Penn Square LLC has begun construction of a $50 million Residence Inn by Marriott at One East Penn Square – marking the final stage of renovations of the Penn Square buildings surrounding City Hall.The ...
June 2, 2000NASHVILLE, Tenn. – American Retirement Corp.(NYSE: ACR), has added Freedom Village at Brandywine in Chester County, Pa., to its portfolio of properties.Freedom Village is a five-story, 800,000-square-foot community located just outside Philadelphia. The 373-unit continuing care retirement community ...
The community was purchased from a group of private investors using a synthetic lease structure.
Property is subject to a long-term franchise agreement with Hilton Hotels.
The property was purchased for between $40 and $50/sf. Rents are expected to start at about $18/sf.
Landauer's chief economist says many real estate investors are focusing on properties in "24-hour cities." He warns that although returns from such properties are greater than those in so-called "9-to-5" cities, they might get hammered in a downturn.
May 16, 2000 By Thomas J. Walsh, Commercial Real Estate Direct Senior WriterPHILADELPHIA – The Pa. Biotech Association has honored National Association of Corporate Real Estate Executives board member Gregory R. Byrnes for a decade of promoting the biotechnology industry.Byrnes, ...
April 20, 2000 PHILADELPHIA – The law firm Ballard Spahr Andrews & Ingersoll has renewed and expanded its lease at the Mellon Bank Center, a Class-A building on West Market Street in Philadelphia's central business district.The law firm will expand ...
April 14, 2000 WEST CONSHOHOCKEN, Pa. – David G. Hagan has joined Keystone Property Trust (NYSE: KTR) as vice president of development, overseeing the company's Midwestern development platform. That includes the 8 million-square-foot Airtech Park, a 491-acre master planned big ...
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