WHITEHALL, PA—1788/Riverside Business Center has acquired Riverside Business Center, a 423,900 square foot single-story light industrial building in Whitehall, PA, for $11.65 million. Located at 1139 Lehigh Avenue, the building is approximately 87-percent leased at the time of the acquisition with eleven tenants.

PHILADELPHIA, PA—US Storage Centers has expanded into Pennsylvania with acquisition of a facility in Philadelphia from Philly Self Storage. The facility will be re-branded as a US Storage Centers self storage facility. US Storage Centers acquired the 1,545 unit, 107,606-square-foot self storage facility located at 1910 S. Christopher Columbus Boulevard. It features climate-controlled units, electronic gated access carts and dollies and RV Parking.

YEADON, PA—Tryko Partners acquired ManorCare Health Services at Mercy Fitzgerald Hospital in Yeadon, PA. Marquis Health Services, the company's healthcare affiliate and a third-generation nursing home operator, will orchestrate a more than $2.5 million renovation of the property, which has been renamed Providence Rehabilitation and Healthcare Center at Mercy Fitzgerald. Built in 1995, Providence Rehabilitation and Healthcare Center at Mercy Fitzgerald is adjacent to Mercy Fitzgerald Hospital, which is part of the Mercy Health System. The two-story, 129-bed facility provides post-hospital care, short-term rehab and long-term residential care. Tryko/Marquis purchased the facility from a ManorCare Health Services/Mercy Fitzgerald Hospital joint venture. The hospital will retain ownership of the land.

WESTBOROUGH, MA—CBRE/New England's Capital Markets team brokered the sale of Halstead Westborough, a 280-unit apartment community located in Westborough, MA. CBRE/NE multi-housing experts Simon Butler and Biria St. John exclusively represented the seller, an affiliate of The DSF Group, and procured the buyer, an affiliate of Harbor Group International. Halstead Westborough consists of a single-story clubhouse and 13 apartment buildings comprised of one- and two-story direct-entry buildings as well as three- and four-story split garden-style buildings completed in 2002. The unit mix includes 108 one-bedroom apartments, 142 two-bedroom apartments and 30 three-bedroom apartments with an average unit size of 1,060 square feet.

HARRISBURG, PA—Pillar Financial, a division of SunTrust Bank and an industry leader of financing solutions for affordable and market rate multifamily and healthcare properties, originated more than $20 million in fixed-rate, full interest-only 10-year terms through Fannie Mae for the refinancing of a manufactured housing community portfolio of four highly-rated MHC properties. Three are located in Pennsylvania and one is located in Maryland. Cullen O'Grady, managing director of Pillar's Bethesda office, sourced the portfolio through Michael Cordes, managing director at Columbia National Real Estate Finance, a key Pillar mortgage correspondent based in Baltimore, MD. The three Pennsylvania-based MHCs include a total of 689 pads and are called The Chesapeake Estates at Grantville (built by the owner in 1986 and pictured here), Chesapeake Estates at New Oxford (built in 1974) and Walnut Grove (built in 1994). These properties are located within 15 miles northeast of Harrisburg, 9 miles north and 10 miles east of Gettysburg, respectively. The Maryland-based MHC has 67 pads and is called Darlington Mobile Homes Estates (built in 1970).

MONTCLAIR, NJ—Value Asset Management has successfully executed the leasing program at The Montclarion at Bay Street Station in Montclair, NJ. The Clifton, NJ-based company completed leasing for the project's 40 rental homes for local developer and owner Richard Polton. VAM will direct management and operations for the five-story LEED-certified building. The Montclarion at Bay Street Station is located at 125 Bloomfield Street steps away from Montclair's Bay Street New Jersey Transit Station.

PHILADELPHIA, PA—Commonwealth Campus, spanning over 16 acres, is the setting of the old Northeastern Hospital in Port Richmond, Philadelphia. Acquired in December 2017 by BG Capital for $18 million, Commonwealth Campus is home to many medical office businesses, including anchor tenant, Temple University Health System with over 60,000 square feet of office space. Commonwealth Campus is home to many practices, including but not limited to, cardiology, gastroenterology, oncology, pediatric dental and physician, women's health, urgent care, radiology, endoscopy and dialysis. BG Capital has more than $51.65 million in new construction, tenant improvement and capital expenditure funding to allocate in its development of Commonwealth Campus. Beautification programs began in Q1 and will be completed by Q3 2018 for the two buildings currently occupying the property, the first exceeding 194,000 square feet and the second consisting of approximately 34,000 square feet. $6 million has been allocated to a new tenant fit out (expected completion May 1, 2018) occupying 55,000 square feet in the seven-floor high-rise portion of the property. Another $3 million will be allocated to expansions throughout the building. With the addition of these new fit outs and expansions, Commonwealth Campus is expecting to create 500+ new jobs for the community.

Money Moves

BOSTON, MA—Newmark Knight Frank appointed Patrick Glynn to oversee and direct property management services in the New England Region, including business development, operations, integrating service lines and strategic staff recruitment to maximize the value of real estate assets on behalf of clients. Based in NKF's Boston office, Glynn will be partnering with NKF's market leaders to expand the firm's suite of investor services throughout Massachusetts, Rhode Island, New Hampshire, Vermont and Maine.

WILKES-BARRE, PA—David Weaver, vice president of NAI Mertz of PA in Wilkes-Barre, PA, has earned the SIOR designation from the Society of Industrial and Office Realtors, the leading professional commercial and industrial real estate association. The prestigious SIOR designation is a professional symbol of the highest level of knowledge, production and ethics in the real estate industry. Weaver is an industrial and leasing specialist with 12 years of tenure with NAI Mertz of PA. He is a licensed salesperson in Pennsylvania with a bachelor's degree in Economics from Wilkes University.

JERSEY CITY, NJ—Mack-Cali Realty Corporation named its chief executive officer, Michael J. DeMarco, to its board of directors. DeMarco's addition to the board expanded the total number of members from nine to ten.