CBRE Capital Markets’ Institutional Properties team arranges sale of $61.2 million office building
PHILADELPHIA, PA — CBRE announced the sale of Axalta’s Global Innovation Center located at 1050 Constitution Ave. in Philadelphia’s Navy Yard. Apex Capital Investments, a US based real estate investment management firm and a subsidiary of Kuwaiti-based Dimah Capital, acquired the asset for $61.2 million. Robert Fahey, Jerry Kranzel, Erin Hannan and Jack Corcoran of CBRE Capital Markets’ Institutional Properties team marketed the property on behalf of the seller, Liberty Property Trust. Additionally, CBRE Debt & Structured Finance team members Nick Harris and Steven Doherty financed the deal and secured the funding on behalf of the buyer.