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More investment activity is starting from New York and Florida, however, that gap will close as California investors get added clarity about opportunity zone funds, leading to increased involvement.
The 99-year ground lease will bring UMass $235 million and has the potential to foster 3.4 million square feet of mixed-use development at the property.
“We like the Philadelphia market, and in particular the local demand generators in the King of Prussia sub-market,” says David Lifschitz, president and CEO of The Gehr Group.