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  • Alascio

Cushman & Wakefield arranges purchase financing for Southern Bucks County, PA office asset total

YARDLEY, PA — Cushman & Wakefield’s Equity Debt & Structured Finance (EDSF) group has arranged $63 million in purchase financing for the acquisition of Lower Makefield Corporate Center in Southern Bucks County. Affiliates of Rubenstein Partners acquired the eight-building, 467,000 s/f Yardley office complex this month, with Rialto Capital Management providing separate mortgages for the property’s two distinct campuses on Stony Hill and Township Line Roads. EDSF team members John Alascio, Alexander Hernandez, Sridhar Vankayala and TJ Sullivan headed the assignment on behalf of Rubenstein Partners, which purchased the asset from American International Group. Lower Makefield Corporate Center offers a distinctive combination of high-quality office product at an attractive basis, strong sponsorship, and positive leasing momentum – in a market defined by consistently appreciating fundamentals. “These factors generated significant interest from the financing market,” said John Alascio, executive managing director of the EDSF team. “Rubenstein Partners has a reputation in the industry of creating significant value and upside within corporate campus environments,” he noted. “As such, we were able to take advantage of the increasingly competitive debt capital markets to secure an attractive financing package for Lower Makefield in one of the region’s most attractive suburban markets.”

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