Hilco Redevelopment Partners closes on $225.5 Million acquisition of PES
PHILADELPHIA, PA — Hilco Redevelopment Partners (HRP), the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial property announced that it completed a transaction to purchase the 1300-acre former Philadelphia Energy Solutions (PES) refinery in Southwest Philadelphia. The deal is a giant step toward building an environmentally responsible and economically robust commercial hub in Southwest Philadelphia.
“I want to thank Hilco Redevelopment Partners for their commitment to Philadelphia by assuming ownership of one of the most important commercial sites in the city,” said Philadelphia Mayor Jim Kenney. “The action creates jobs, ensures the future commercial viability of the site, and decreases the former refinery’s environmental impact.”