PIDA awarded $1.8 million to ActionPak, Inc. for the acquisition and renovation of a 99,032-sf building at 2558 Pearl Buck Rd. in Bucks County's Bristol Twp. The property, located in a state-designated enterprise zone on a 6.7-acre site, enables the contract packaging firm to consolidate and expand operations.
Imageworx Corp., a supplier of computer graphics to label makers, received a $375,000 loan to buy a 14,136-sf building at 51 Runway Rd. in Levittown, which is also in Bristol Twp.
Frankford Candy & Chocolate Co. obtained a $1.3 million PIDA loan to acquire the fourth condo unit at the former Crown Cork & Seal building at 9300 Ashton Rd. in Philadelphia. The acquisition allows the maker of Brach's and other candy brands to consolidate operations with its two existing condo units at that location.
Downes and Reader Hardwood Co. received a $475,832 loan to acquire an 8.2-acre site in New Ventures Commercial Park in Blakslee in Monroe County and construct two buildings totaling 30,000 sf.
In an unrelated transaction, LJ Melody arranged $37.5 million in permanent financing for a Pennsylvania portfolio of five retirement communities. Jim Starman of Melody's Pittsburgh office secured the funding from Warrenton, VA-based Greystone Servicing Corp. Starman declined to identify the not-for-profit borrower or the locations, since identifying the latter might also reveal the owner's identity, he tells GlobeSt.com.
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