July 5, 2016
Securities trades recently reported to the Securities and Exchange Commission by officers, directors, and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. Brandywine Realty Trust Gerard H. Sweeney , chief executive officer, sold 60,000 shares at $15.74 on June 27, and now directly holds 1,143,231 shares. Chesapeake Utilities Corp. John R. Schimkaitis , board chairman, sold 500 shares at $63.03 on June 27, and now directly holds 146,099 shares.
June 9, 2016 |
Eatontown, N.J.-based Wharton Realty Group has acquired a 108,600-square-foot shopping center in Glenolden for $17.2 million, James Galbally, a managing director at real estate services firm JLL in Philadelphia, said in an e-mail Tuesday. The property at 140 N. MacDade Blvd. was purchased from MCB Real Estate and Alex Brown Realty, both of Baltimore, according to Galbally, who was lead broker on the deal. The shopping center features a newly renovated ShopRite supermarket and is at 100 percent occupancy, Galbally said.
March 13, 2016 |
Seven Philadelphia-area "hipster" zip codes - five in the city, and Ardmore and Upper Darby - are among the top 30 nationally for profitable home flipping, says RealtyTrac, the Irvine, Calif., foreclosure search engine. RealtyTrac analyzed single-family homes and condos flipped (sold twice within a 12-month period) in 2015 in more than 15,000 zip codes nationwide and identified the top 30 so-called "hipster" zip codes for flipping. Flips in most of these local zip codes account for relatively few of the total home sales in 2015 - 3.3 percent in Upper Darby to 12.9 percent in 19146, comprising Southwest Center City and Point Breeze.
February 6, 2016 |
Brandywine Realty Trust has sold a package of 58 properties in Virginia, New Jersey and suburban Pennsylvania for $398.1 million to an affiliate of Och Ziff Capital Management LLC of New York, the Radnor-based developer said in a release. Thursday's sale, which encompasses 3.9 million rentable square feet, includes all of Brandywine's Richmond, Va., inventory and reduces its square footage in New Jersey by 44 percent, it said. Under the deal, Brandywine took a 50 percent stake in a ground lease covering the properties through a venture with the Och Ziff affiliate, it said.
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 4, 2015 |
J. Francis Mahoney IV, 69, of Wynnewood, a principal in a commercial realty firm, died Saturday, Nov. 28, of complications from cancer at Kindred Hospital in Havertown. Known as "Fran," Mr. Mahoney was born in Philadelphia, the eldest son of J. Francis Mahoney III and Margaret G. Mahoney, both physicians. He graduated from Malvern Preparatory School and the University of Pennsylvania. In the early 1970s, Mr. Mahoney started work at Albert M. Greenfield & Co. in Philadelphia, where he rose to become vice president of the industrial real estate department.
November 10, 2015 |
Brandywine Realty Trust is putting open space on a pedestal in University City. Literally. The developer unveils Monday its Cira Green plaza, a 1.25-acre, publicly accessible expanse of grass and paved walkways atop a 95-foot-high parking structure just west of the Schuylkill. Its opening marks the latest chapter in Brandywine's bid to remake a huge swath of central Philadelphia around 30th Street Station - an area bordering the campus of Drexel University up to the riverbanks opposite the Philadelphia Museum of Art - as the once-suburban company solidifies its urban presence.
October 6, 2015 |
Brandywine Realty Trust has sold a 105,312-square-foot commercial building in Mount Laurel, New Jersey, for $16.5 million, the company said in a Monday filing with the U.S. Securities and Exchange Commission. The Radnor-based real estate investment trust sold the building on Sept. 29, according to the filing. Brandywine CEO Gerard Sweeney declined in an email to identify the location of the property or its buyer. The transaction was part of an ongoing asset-sale program, he said.
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.