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Joint Venture

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NEWS
January 7, 1990 | By Rachel Athelia Anderson, Special to The Inquirer
Yeadon hopes to enter into a joint venture with Darby Borough for trash pickup and recycling. Last month, Yeadon received a bid from Nu-Way Trash Removal Corp. of Primos, a local subidiary of Waste Management Inc., for the collection of refuse and recyclable items in both boroughs. "We will get a better price because two boroughs are in it together," borough manager Daniel Fox said during a Yeadon Council meeting Thursday. The recycling pickups would begin April 1. The two boroughs' combined cost for the nine-month contract would be $129,500.
NEWS
December 21, 2011
Commercial real estate operator Brandywine Realty Trust, Radnor, said it formed a joint venture with Current Creek Investments L.L.C. to invest in properties in the Washington area. Brandywine is contributing three office properties valued at $156 million to the venture. Both partners also have allocated $75 million in equity "to pursue additional office property investments" in the Washington region, Brandywine said in a statement. Current Creek is a wholly owned subsidiary of Allstate Insurance Co.    - Reid Kanaley
BUSINESS
January 18, 1986 | By Gilbert M. Gaul, Inquirer Staff Writer
United States Health Care Systems Inc., which Thursday reported record earnings, yesterday said that it would create a health maintenance organization in a joint venture with Blue Cross of Northeastern Pennsylvania. The company, based in Blue Bell, said that the two organizations had agreed in principle to form a new HMO that will serve northeastern Pennsylvania, an area now dominated by Blue Cross. The insurance plan has about 650,000 members, including about 100,000 Medicare beneficiaries, in the area.
BUSINESS
April 30, 1993 | By David I. Turner, INQUIRER STAFF WRITER
The Binswanger real estate group is teaming up with a Mexican firm that helped pioneer the maquiladoras industrial parks to help U.S., European and Japanese businesses set up shop in Mexico and Central America. The joint venture between the Philadelphia commercial real estate firm and Grupo Bermudez, of Juarez, Mexico, will provide a full range of real estate services to foreign companies from the Rio Grande south into Colombia and Venezuela. "As the North American Free Trade Agreement (NAFTA)
REAL_ESTATE
December 16, 1988 | By Melissa Dribben, Special to The Inquirer
HIDDEN CREEK Glassboro, Gloucester County (609) 881-0777 There is something warm and affiliated about Hidden Creek in Glassboro. Most of the houses are twins, sharing one nicely insulated wall, and the whole 268-unit project is being produced by a joint venture. While New Jersey and Texas may not normally be considered to have a lot in common, one obvious exception is that developers in both states like to build houses that sell well. So Johnston Development of San Antonio, Texas, shook hands with Polamar of Allentown, N.J., and, with the permission of Glassboro planners, turned 105 acres on Mullica Hill Road into Hidden Creek.
NEWS
July 24, 2015 | By Jacob Adelman, Inquirer Staff Writer
A joint venture involving Abrams Realty & Development of Elkins Park and Onyx Equities of Woodbridge, N.J., have bought the Penrose Plaza Shopping Center in Southwest Philadelphia from a Korman Commercial Properties subsidiary for $25 million. The new owners plan to expand and remodel the ShopRite supermarket at the 263,000-square-foot shopping center, located in the city's Eastwick section, Abrams managing partner Peter Abrams said Tuesday. Abrams said he also was negotiating with potential new tenants for the former location of a 95,000-square-foot Kmart store there.
BUSINESS
June 27, 2012 | Inquirer Staff Report
A Brandywine Realty Trust joint venture agreed to buy three Silver Spring, Md., office buildings totaling 499,395 square feet of space for $120.6 million, the Radnor company said. Brandywine's partner in the joint venture is a subsidiary of Allstate Insurance Co. The seller is a joint venture between Urdang, a BNY Mellon Co. based in Plymouth Meeting, and Moore & Assoc. of Bethesda, Md. The deal is expected to close July 10. – Harold Brubaker
BUSINESS
October 10, 1995 | By Susan Warner, INQUIRER STAFF WRITER
Teleflex Inc., of Plymouth Meeting, yesterday announced a joint venture with GE Aircraft Engines to repair commercial aircraft components. The companies expect the partnership to bring in sales of $50 million next year - or about a quarter of the global market for the repair of engine-fan blades and compressor airfoils. Sermatech International, a subsidiary of Teleflex, will own 51 percent of the joint venture. The new company, Airfoil Technologies International LLC, is expected to begin operations by the end of this year.
BUSINESS
November 13, 1991 | By Vyola P. Willson, Special to The Inquirer Inquirer staff writer Marian Uhlman contributed to this article
Astra/Merck, a joint venture of Merck & Co. and Sweden's leading pharmaceutical company, is planning a $53 million headquarters and research facility in Chester County. Gov. Casey yesterday recommended that the state legislature approve a $4.5 million low-interest state loan to help finance the new building. Astra/Merck plans to employ 135 when it opens the 150,000-square-foot facility in 1993. Up to 300 could be employed there by 1996. Merck said no decision had been made on the location.
SPORTS
October 13, 2008 | Daily News Wire Services
The NBA has formed a joint venture with Anschutz Entertainment Group to design and develop about 12 multipurpose arenas in major Chinese cities. The project was announced yesterday at the O2 Arena in London, where the New Jersey Nets and Miami Heat played a preseason game. AEG runs the O2, and the venture will be equally owned by the two parties. NBA commissioner David Stern did not say when the plan would be starting, or where the buildings would be located. "We weren't going to start construction in the next couple of weeks," Stern said at a joint news conference with AEG president and CEO Timothy J. Leiweke.
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BUSINESS
August 13, 2016 | By Harold Brubaker, STAFF WRITER
Tandigm Health said Thursday that 65 primary care physicians in a group affilated with St. Mary Medical Center, in Langhorne, had joined its network, bringing the Tandigm total to 440. Tandigm, based in West Conshohocken, is a joint venture of affiliates of Independence Blue Cross and DaVita HealthCare Partners. Its goal is to help primary doctors coordinate patient care in a bid to improve quality and reduce costs. hbrubaker@phillynews.com 215-854-4651 @InqBrubaker  
NEWS
April 28, 2016 | By Jacob Adelman, STAFF WRITER
Liberty Property Trust has sold eight properties in Delaware, Florida and Minnesota for $131.1 million during the first three months of 2016, the company said in a financial report on its website Tuesday. The six office buildings and two industrial properties account for around 849,000 square feet, the Malvern-based company said. A joint venture in which Liberty holds a 25 percent interest also sold another seven Virginia office buildings for $146.6 million, it said. The company plans to sell between $900 million and $1.2 billion worth of suburban properties outside of its core business areas this year, it said.
NEWS
February 20, 2016 | By Harold Brubaker, STAFF WRITER
Inspira Health Network filed a state layoff notice affecting 105 home-care and hospice employees as it prepares for a joint venture with Bayada Home Health Care covering Cumerland, Gloucester, and Salem Counties. Inspira spokesman Greg Potter said Thursday that the Inspira employees would be interviewed for Bayada jobs, but "there may be some who don't fit into the joint venture. " Potter said that the tax-exempt Inspira, which is in the midst of planning a new hospital near Rowan University, would attempt to find jobs within the Inspira network for those not hired by Bayada.
NEWS
January 22, 2016 | By Jacob Adelman, STAFF WRITER
Brandywine Realty Trust and Realen Properties Inc. are selling the 1000 Chesterbrook Boulevard office building, which they own as a joint venture, Douglas Rodio, a managing director at real estate services firm JLL, said Wednesday. The 172,327-square-foot, three-story building in Berwyn is 92 percent leased, with tenants including National Penn Bank and Wells Fargo, according to Rodio, a member of the JLL team marketing the property. Recent property sales by Brandywine include the IRS facility in the former 30th Street Main Post Office and the Laurel Corporate Center in South Jersey.
NEWS
January 7, 2016 | By Jacob Adelman, STAFF WRITER
The company formerly known as Hersha Hospitality Management has acquired the Residence Inn Philadelphia Conshohocken hotel from a partnership involving Brandywine Realty Trust for $26.5 million. HHM, as it is now known, bought the 137-room Marriott hotel to take advantage of Conshohocken's growing business community, the company said in a release Tuesday. Brandywine announced the sale of the hotel, in the Tower Bridge development, earlier in the day. The Radnor-based developer said it will net $6.1 million from its 50 percent stake in the property after debt repayment and other costs.
NEWS
December 5, 2015 | By Jacob Adelman, Inquirer Staff Writer
A subsidiary of Salt Lake City-based Bridge Investment Group Partners L.L.C. has purchased six senior-housing properties, including Arbor Terrace in Chestnut Hill, according to Holliday Fenoglio Fowler, which marketed the portfolio. ROC Seniors Housing Fund Manager L.L.C. bought the properties from a joint venture between the Carlyle Group and Capitol Seniors Housing Nov. 16, HFF spokeswoman Olivia Hennessey said Thursday. The other properties are in Corona del Mar, Riverside and Whittier, Calif.; West Bloomfield, Mich.; and Washington, D.C., HFF said.
BUSINESS
December 2, 2015 | By David Sell, Inquirer Staff Writer
Hoping to better weave through the complexities of Japan's changing health-care marketplace and sell more generic drugs, Teva Pharmaceutical Industries Ltd. said Monday that it was forming a joint venture with Takeda Pharmaceutical Co. Ltd. The new company seeks to marry Teva's strong portfolio with the Japanese firm's sales force. Teva will hold a 51 percent interest in the joint venture, with Takeda holding a 49 percent share, the companies said. In a November report, IMS Health predicted that drug spending in Japan, the world's third-largest market behind the United States and China, will increase from 3 percent to 4 percent over the next five years.
BUSINESS
November 19, 2015 | By Harold Brubaker, Inquirer Staff Writer
Tandigm Health L.L.C., a joint venture of Independence Blue Cross and DaVita HealthCare Partners designed to coordinate care in a way that reduces costs and improves quality, has expanded to include Doylestown Healthcare Partnership, Tandigm announced Tuesday. Tandigm, which was launched in April 2014, already includes Holy Redeemer Health System and 363 primary care physicians. The Doylestown deal, which covers Doylestown Hospital and a physicians group with 270 specialists, marks the first time Tandigm has included specialists in its network, which covered 89,700 members on Sept.
NEWS
November 5, 2015 | By Jacob Adelman, Inquirer Staff Writer
An investment fund operated by New York's Square Mile Capital Management has originated a $26.8 million mortgage loan for the Penrose Plaza shopping center in Southwest Philadelphia, the company said in a release on Tuesday. Square Mile Capital Partners is funding the center's recent acquisition and planned capital expenditures by a joint venture of Onyx Properties, Abrams Realty & Development, and Siguler Guff. The 261,000-square-foot property at 2900-3000 Island Ave. is anchored by a ShopRite supermarket.
BUSINESS
October 25, 2015 | By Jacob Adelman, Inquirer Staff Writer
A joint venture between Young Capital and SSH Real Estate Investments has purchased a three-story office building in the Great Valley Corporate Center in Malvern for $7.27 million. The Philadelphia-based companies plan about $500,000 in improvements at the 48,686-square-foot Two Country View Road building, SSH Real Estate, which arranged the sale, said in a statement Friday. The building is 83 percent occupied with BB&T Bank and SunGard Business Systems as the anchor tenants, SSH said.
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