CEO Gary DeSanto tells GlobeSt.com the company expects to close on a 153,000-sf class A office complex in the Harrisburg market within three weeks and has two Pittsburgh-area projects aggregating 800,000 sf in the pipeline. All of the company's acquisitions are in behalf of TIC investors.

DeSanto paid approximately $22 million for the three-building, 123,379-sf Crums Mill complex in late June, as reported at GlobeSt.com. Citibank provided a loan of approximately $14 million for the acquisition, DeSanto says. The remaining equity investment of slightly more than $7.9 million is spread among 19 TIC investors. Calabasas, CA-based AFA Financial served as managing broker-dealer on the transaction. In August 2005, DeSanto paid $13.5 million for the 90,000-sf Yellow Breeches Office Park in Harrisburg, which is also fully subscribed.

"There are very few TIC properties on the East Coast, let alone Pennsylvania," he says. "But, interest in these kinds of investments is growing here." DeSanto plans to continue investing in the area. Following its third planned Harrisburg buy, he will turn his attention to the western area of the state.