PHILADELPHIA—In a move that reflects a recognition and appreciation of Philadelphia's economic growth and future potential, The Durst Organization has acquired Philadelphia Piers at Penn's Landing, a section of the Philadelphia waterfront that spans Piers 12, 13-15, 19 and 24.
It is The Durst Organization's first purchase outside of New York. Financial details were not disclosed.
“We're excited that our first purchase outside of New York is The Piers at Penn's Landing, because of the progress and potential we see for the revitalization of the Philadelphia waterfront,” says Alexander Durst, chief development officer of The Durst Organization. “This purchase reflects our bullish thinking on Philadelphia and the long-term possibilities that we see for the development of the city as a whole.”
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