KENNETT SQUARE, PA-The healthcare REIT gets $3.1 million to from Wachovia Bank pay off an earlier bank credit facility with a Deutsche Bank subsidiary, but it can borrow up to $7.5 million subject to lender approval.
PHILADELPHIA-Gov. Mark Schweiker asks General Assembly not to "rush it" as it tackles property tax reform in a special session. "Philadelphia is one of the most heavily taxed cities in the country," says Sperry Van Ness regional manager John McDermott.
WEST CHESTER, PA-The expansion at Matlack Industrial Park will house the audiovisual firm's growing AV equipment rental business, which includes a project at Princeton University.
PHILADELPHIA-A stable, but inefficient industrial market, high property taxes, lead to high yields and low prices in this market. The average 11.25% yield is topped only by Columbus, OH in a survey by Sperry Van Ness.
PHILADELPHIA, PA-For starters, American Financial Realty Trust has lined up a portfolio of 87 bank branches and six office buildings. Long-term triple-net leases will be used after acquisition.
PHILADELPHIA-Sale of non-core assets has been slower than anticipated, according to ratings agency. In addition, there are vacancy issues at the remaining centers as well as the company's high level of debt.
PHILADELPHIA, PA-Minnetonka, MN-based MedSource Technologies has agreed to buy medical device firm Cycam Inc. for $24 million in cash and stock. A result could be a sale-leaseback of 149 Johnson Rd. in Houston, PA.
PHILADELPHIA-The $464-million question is how the holdout of the Metropolitan Regional Council of Philadelphia and Vicinity United Brotherhood of Carpenters and Joiners of America will affect Pennsylvania Convention Center expansion.
CINCINNATI-River Cities Capital Funds leads the investment group in raising money for Construction Software Technologies Inc., whose 'iSqFt' puts the construction planning, bidding and post-bid processes on line.
VALLEY FORGE, PA-The two-story class-A office building sold by Berwind Property Group of Philadelphia is leased to Quest Diagnostics, which uses the property as its national billing headquarters.