BLUE BELL, PA-PCCP, LLC is providing a $23.75-million senior loan to Keystone Property Group to recapitalize Sentry Park West here. The property is a five-building, class A office complex in suburban Philadelphia that recently underwent a $10-million renovation to the exterior, as well as a modernization of four of the properties.

The 228,000-square-foot complex was built in 1973 and purchased by Bala Cynwyd, PA-based KPG in 2004 for $20.4 million from Archon Group. “This property appeals to small- and mid-size tenants looking for a prestigious location and smaller floor plates that offer corner glass with superior light and air, says John Prete, VP with PCCP in a release.

The property at 1777 Sentry Parkway West sits on 16 acres. The five buildings are Gwynedd Hall, Dublin Hall, Abington Hall Merion Towle and a PNC Bank branch. KPG was not able to return a call to GlobeSt.com in time for publication.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.