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.
At Home, a national chain of home décor superstores, has signed a 10-year lease for the entire first floor of the retail store comprising 101,488 square feet.
"These 26 new homes will help ensure working families can continue to plant roots in Philly neighborhoods experiencing price appreciation," says City Council president Darrell L. Clarke, who has long championed increasing the City's affordable housing stock.
"Pad sites continue to experience a strong investor demand because of their location, access, visibility, and customer base,” says Marcus & Millichap's Mark Krantz.
The Reading multifamily loans are backed by a local sponsor and management company, whose real estate portfolio consists of 2,000 multifamily units in 15 multifamily properties.
The financing deal was announced by Square Mile Capital Management LLC, which originated the loan for Goldman Sachs Urban Investment Group and BRP Companies.
The acquisition includes three multifamily properties in the Houston metro area totaling 1,392 units; two properties in Tampa, FL totaling 1,231 units and a 253-unit property in Salt Lake City, UT.