August 26, 2015 |
Brandywine Realty Trust has sold the 247,294-square-foot Bay Colony Executive Park office complex in Wayne to an affiliate of Philadelphia-based real estate fund manager Equus Capital Partners. The acquisition of the four-building campus was made on behalf of BPG Investment Partnership IX, a discretionary fund managed by Equus, the company said Monday, without disclosing the purchase price. The company plans "a significant capital investment" in building and campus upgrades, Equus vice president George Haines said in the release without specifying how much would be spent.
July 23, 2015 |
Brandywine Realty Trust paid $16.6 million for the 37,000 square feet of property it bought this month on the Center City block that was the site of 2013's deadly building collapse. The purchase price for the land, which makes up most of the southern side of Market Street's 2100 block, was revealed in documents filed with the city that surfaced Tuesday. Brandywine's purchase was the largest of several recent transactions through which property investor Richard Basciano finished selling off his Center City holdings.
July 11, 2015 |
Brandywine Realty Trust, Philadelphia's biggest office landlord, has bought almost the entire Center City block that was the site of 2013's deadly building collapse that flattened a Salvation Army thrift store. The publicly traded investment trust bought the 37,000 square feet of land along the southern side of Market Street's 2100 block on Tuesday, president and CEO Jerry Sweeney said. He would not disclose the price. The purchase of the site - including two buildings, a parking lot, a parking structure, and a vacant lot - is seen as a vital piece in linking Philadelphia's core office district to University City.
November 12, 2014 |
Restoring "value and credibility" to American Realty Capital Properties Inc. , landlord to a big slice of corporate America, "will require the company to separate completely from founder, former CEO, and executive chair Nick Schorsch ," analyst Chris Lucas told clients of CapitalOne Securities Inc. in a report Monday. Manhattan-based American Realty Capital, whose back offices are in the Schorsch family's native Jenkintown area, has lost a third of its stock-market value since the company retracted its 2014 financial reports last month.
July 24, 2014 |
Angela Giribaldi Hurtubise, 80, of Haverford, a teacher and later a real estate agent, died Wednesday, July 16, of pneumonia at Bryn Mawr Hospital. The daughter of an American mother and an Italian physician father, she and her mother and grandmother moved from Italy to the Philadelphia area in the 1940s, on the advice of relatives, during World War II. She was 10. Mrs. Hurtubise graduated from the Agnes Irwin School, and the University of Pennsylvania School of Education with a bachelor's degree.
October 25, 2013 |
Nick Schorsch , the factory owner-turned-real estate mogul who moved his headquarters to Manhattan from Jenkintown six years back, is back in the news with yet another deal - his biggest yet: Schorsch's American Realty Capital Properties Inc. (ARCP) has agreed to pay cash and stock for its larger rival Cole Real Estate Investments Inc. of Phoenix for nearly $7 billion in cash and stock. ARCP will also take on more than $3 billion in Cole debt. Cole shares rose to near the offer price on news of the deal, while ARCP shares slipped.
February 9, 2013 |
Evelyn Bass let little get in her way, least of all panty hose and heels. For 30 years, she was a real estate agent in Cherry Hill - the full-steam-ahead sort who would grab a shovel and claw hammer, dig up a misplaced six-foot sale sign, lug it across a busy intersection, sink its four-by-four posts in the right spot, then patch the heretofore damaged lawn. She did that on Greentree Road in a two-piece suit and unsensible shoes. She also was the sort who, in her 70s, drove daily into Camden to be a volunteer aide in a classroom of kindergartners who vied to hold her hand.
February 3, 2013 |
Brandywine Realty Trust says it will redevelop 1900 Market St., which houses Nasdaq's Philadelphia Stock Exchange operations and investment and law offices, "as a Class A office building. " Work will start next year and be done by 2015, the company said. Separately, Brandywine, of Radnor, has asked Campus Crest Communities, a Georgia company known mostly for building student housing at suburban and small-town colleges in the South and West, to put up student housing on a site approved for a 36-story high-rise at 2930 Chestnut St. in University City, according to two real estate industry sources familiar with the deal.
December 20, 2012
Thomas J. Dolan, 84, of Blue Bell, a Philadelphia real estate professional whose expertise was in putting together commercial deals, died Friday, Nov. 30, of cancer at Westgate Hills Nursing Center in Havertown. For 50 years, he negotiated and helped finance many commercial projects in Philadelphia and Manhattan. Born in Philadelphia, Mr. Dolan was raised in Upper Darby and graduated in 1946 from Upper Darby High School. In 1950, Mr. Dolan married Lora Marcolina. The two met while summering in Beach Haven, N.J. From 1959 to 1963, he served as a commissioned first lieutenant in the Army Reserve.
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