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.
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