Terms of the new and previous debt are undisclosed, but Kelley DeSantis, SVPof marketing in GMAC's Philadelphia office, tells GlobeSt.com the new loan'sfixed interest rate is below 5%. Ed Riedlinger, SVP and managing director ofthe office, says it is "especially gratifying" to trade the owner'suncertainty of a floating rate loan to current low fixed rates, since theGMAC office worked with Lion 15 years ago on acquisition financing.
The property, located at 101 Gordon Dr. in the Lionville complex, is theheadquarters of West Pharmaceutical Services. The class-A facility consistsof a one- and two-story building that combines pure office and R&D spacealong with a cafeteria and fitness center for employees.
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