June 19, 2000 NEW YORK – Related Capital Co. has arranged $10.5 million of historic tax-credit funding allowing Dranoff Properties to invest in the rehabilitation of a University City property in Philadelphia. The property is slated to become the Left ...
June 12, 2000 PHILADELPHIA – The first speculative office building to go up in Philadelphia in eight years is now 90 percent leased.The 140,000-square-foot building at 3701 Market Street is one of five that University City Science Center, a consortium ...
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, ...
Commercial Real Estate Direct is the only source -- in print or otherwise -- that keeps close tabs on the entire real estate capital markets industry. It provides up-to-date market intelligence on the mortgage business, equity raising, investment sales and CMBS.
