Original Northeast commercial real estate news & events for New York, New Jersey, Boston, Philadelphia, and other northeastern US states, plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
The hotels sold are Park Central San Francisco and Park Central New York/WestHouse New York, Gild Hall, New York and the Embassy Suites Philadelphia Center City.
"Following the success of Metroplex One, we saw significant value in creating a striking and innovative ground-up development that could attract large, forward-thinking brands to the region," says Jerry Sweeney, president & CEO of Brandywine Realty Trust.
In addition to 18 new gates, the first phase of the $8 billion in renovations brings new dining and retail to the airport which services 30 million passengers each year.
The REIT now holds a greater interest in the Midtown building owned with HNA Group and moves forward in constructing its Financial District residential tower.