April 28, 2016 |
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.
February 20, 2016 |
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.
January 22, 2016 |
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.
January 7, 2016 |
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.
December 5, 2015 |
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.
December 2, 2015 |
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.
November 19, 2015 |
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.
November 5, 2015 |
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.
October 25, 2015 |
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.
September 11, 2015 |
Doylestown Health Partners, a joint venture between Doylestown Hospital and about 440 primary care and specialist physicians, entered a contract to manage Humana's 3,200 Medicare Advantage customers in Bucks and Montgomery Counties. Humana, based in Louisville, Ky., agreed in July to be acquired by Aetna for $37 billion. In July, Humana had 8,246 Medicare Advantage customers in the eight-country Philadelphia region. Nationwide, Humana has 1.5 million Medicare Advantage customers, the company said.