ANNAPOLIS, MD & KING OF PRUSSIA, PA — Hannon Armstrong, an investor in climate change solutions, and Morgan Properties, a real estate investment and management company, announced a new joint venture that will acquire the B-Piece from Freddie Mac’s previously settled KG series focused on environmental and social impact, and part of Freddie Mac’s flagship K-Deal program. The issuance, K-G02, is exclusively comprised of securitized workforce housing loans made through Freddie Ma
KING OF PRUSSIA, PA — Newmark Knight Frank’s (NKF) greater Philadelphia Capital Markets team comprising Mike Margolis, Dave Dolan and Dave Garonzik, along with local market expert, Jim Dugan, have successfully completed the sale of 200 N Warner Rd. in King of Prussia. The team represented the joint venture of Taconic Capital and Cohen Equities, both of New York, NY, in the $37.85 million sale to Pembroke Capital of Bryn Mawr, PA.
When Taconic Capital and Cohen Equities acqui
KING OF PRUSSIA, PA — Morgan Properties, one of the nation’s largest and fastest growing multifamily investors, announced it completed a portfolio transaction to acquire nearly 80 apartment communities encompassing 15,000 units across eight states.
This transaction takes Morgan Properties’ total portfolio to more than 75,000 units in 15 states throughout the country, making it one of the five largest multifamily owners in the U.S. Since 2012, the King of Prussia, Pennsylvani
KING OF PRUSSIA, PA — Jack Intrator, CPM, RAM, ARM, and Savor LLC signed an agreement for the Gourmet Grocery store at Valley Forge Towers. The 2,100 s/f space, located at 3000 Valley Forge Circle in King of Prussia has been leased. Intrator represented Valley Forge Towers and The Galman Group. Savor LLC leased the property from The Galman Group and intends to transform the space into a gourmet grocery store with granite counter space. George Butcher of Savor LLC and his wife
KING OF PRUSSIA, PA — Jack Intrator, and Savor LLC signed an agreement for the Gourmet Grocery store at Valley Forge Towers. The 2,100 s/f space, located at 3000 Valley Forge Circle in King of Prussia has been leased. Intrator represented Valley Forge Towers and The Galman Group. Savor LLC leased the property from The Galman Group and intends to transform the space into a gourmet grocery store with granite counter space. George Butcher of Savor LLC and his wife Jennifer have
KING OF PRUSSIA, PA — The Pennsylvania Land Title Association (PLTA) held its annual convention at he the Wyndham Gettysburg in early June. The event provided an opportunity to introduce its new officers, and present special awards to those who have made outstanding contributions to the title industry in Pennsylvania.
Taking the reigns as the 2018-2019 president of the PLTA is Danielle Chamberlain, CLTP an assistant VP and agency representative with Fidelity National Title I
KING OF PRUSSIA, PA — Morgan Properties has acquired a $277.5 million, four-property portfolio consisting of 2,729 units located in the suburban Maryland-D.C. Corridor from Rockpoint Group. The acquisition, called the NOAH Portfolio, includes Carriage Hill, Charlesmont, Gwynn Oaks, and Princeton Estates. Morgan Properties also recently acquired Parkview at Collingswood, a 1,030-unit, mid-rise apartment community in Collingswood, NJ. These acquisitions come on the heels of thr
King of Prussia, PA — Cronheim Hotel Capital (CHC) has arranged acquisition financing totaling $12.075 million for the Holiday Inn Express & Suites in King of Prussia. The loan was placed with a national lender for a securitized execution and offered a 10-year term and 30-year amortization. The 155-room Hotel benefits from its strategic positioning near the convergence of four major thoroughfares, I-76, I-276 (Philadelphia Turnpike), US 422, and US 202, which provides conveni
King of Prussia, PA — CBRE Group, Inc. (CBRE) announced that the Net Lease investment sales team led by Matthew Gorman and Michael Shover, both senior vice presidents at CBRE, have arranged the sales of a Verizon Wireless store in King of Prussia, PA and Walgreens Pharmacy in Lansdowne for a combined price tag of $20.615 million. CBRE represented the seller (Pike 705, LLC) and the buyer, a locally based 1031 exchange investor, in the Verizon transaction and the seller (Morela
KING OF PRUSSIA, PA — Keystone Property Group announced that AmeriGas Propane, LLP has signed a 34,135 s/f lease at Parkview, the landmark office tower located at 1150 First Ave. in King of Prussia.Parkview offers a range of onsite amenities including an onsite deli and fitness center. In total, Parkview comprises nine floors and 220,000 s/f of office space.“ AmeriGas was seeking a location that would enrich their work experience, and in Parkview, they found a building rich w
King of Prussia, PA — Jackson Cross Partners announced Jason Blank has been promoted to senior transaction manager. In his new position, Blank will be responsible for the in-service agendas, developing new processes to eliminate redundancy in our internal operations, as well collaborating with JCP’s marketing team to better present our multi-market portfolio capability.
Blank joined Jackson Cross in 2007 and quickly proved his ability to provide clients with cost effective r
KING OF PRUSSIA, PA — Binswanger announced that Matthew Stilwell has joined the project management team and will be based in the King of Prussia office. In his new role, Stilwell will serve as a project manager assisting with the day-to-day management of projects in the region.
A sampling of his past clients include Verizon, Equinix, Ed Snider Youth Hockey, Philadelphia Parking Authority, Revzilla, American Association for Cancer Research, PricewaterhouseCoopers, AECOM, Jaco
KING OF PRUSSIA, PA — Roseview-PMRG Fund I, LLC (the Fund), a $250 million discretionary fund formed by PM Realty Group (PMRG) and The Roseview Group, has acquired a single-story, 102,204 s/f class A office building located at 211 South Gulph Rd. in King of Prussia for $21 million. This is the first acquisition in the greater Philadelphia market for the Fund which was formed to acquire and reposition office properties across the United States. The Roseview/PMRG partnership al