Philadelphia
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Report: Philadelphia Marriott Downtown on Market for Sale
PHILADELPHIA-The city’s largest hotel—the 23-story Philadelphia Marriott Downtown—is being marketed for sale by its owner Host Hotels & Resorts, according to a published report.
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Rubenstein Builds Fund Toward $750M Goal
PHILADELPHIA, PA-Rubenstein Partners is building its second fund to invest in value-add commercial office properties on the East Coast.
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Clancy Takes Over as GM at Loews Philadelphia Hotel
PHILADELPHIA-The Loews Philadelphia Hotel has a new general manager Sean Clancy, who takes over the hotel after some hotel executive management stints in South Florida.
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Investors Bank Makes Record Level of Loans
SHORT HILLS, NJ-A fast-growing community bank based here is making more than half its loans in the commercial real estate sector, the CEO tells GlobeSt.com's Antoinette Martin.
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Health Center to Get $11M Renovation
DOYLESTOWN, PA-Officials with the Pine Run Retirement Community say that an $11-million renovation of its health center will begin in July.
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Self-Storage Companies Post Great Results
CHICAGO—First-quarter growth increases calls from some to consider self-storage a separate and vital real estate sector.
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Subaru Eyes Navy Yard for North American HQ
PHILADELPHIA-Subaru of America Inc. is said to be seriously considering the Navy Yard here as a potential site for its North American headquarters.
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Gebroe-Hammer Sells Two Apts. for $5M
BALA CYNWYD, PA-A 37-unit apartment building here and a smaller one in Yardley attracted much interest from buyers, Gebroe-Hammer Associates brokers tell GlobeSt.com..
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Temple Health to Build Ft. Washington Facility
FORT WASHINGTON, PA-Temple University Health System is undertaking renovations on space in an office building here that will be home to a new urgent care center.
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Dermody Buys 89-Acre Bethel Industrial Site
BETHEL, PA-Partnering with the Berks County development authorities, Dermody will put up an industrial facility that could be a speculative project.
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State Surplus Property Sale Could Net $5M in Savings
HARRISBURG, PA-A proposed sale of 13 surplus state-owned properties could reap $5.2 million in savings to the state of Pennsylvania.
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PernaFrederick Arranges Leases on Market and Walnut
PHILADELPHIA-PernaFrederick represents a couple of office building owners and a tenant in leasing tower space.
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Capmark Reports $1.8M Loss in First Quarter
HORSHAM, PA-Still recovering from bankruptcy, and in the wake of its $147 million lawsuit against Goldman Sachs being dismissed, Capmark reports it came up short in Q1.
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PREIT's Coradino: 'The Wind Is at Our Back'
PHILADELPHIA- PREIT (RECon booth S500W) CEO Joseph Coradino says that things are definitely improving in the mall space as the consumer continues to buy and the economy slowly bounces back.
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Developer Could Get Egg Harbor Site for $1
EGG HARBOR CITY, NJ-A developer looking to build 100 units of low income senior housing at a former middle school here may get the two-acre parcel for just $1.
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Berkadia Signs $75B Deal with KeyBank
HORSHAM, PA-Berkadia Commercial Mortgage LLC, based here, reports it has reached an agreement with KeyBank Real Estate Capital to subservice a commercial portfolio valued at $75 billion that KeyBank has agreed to purchase from Bank of America.
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Coalition Argues Against Second Philly Casino
PHILADELPHIA-The fourth and final day of casino hearings was highlighted by a coalition called “No Casino in Our City” that held anti-casino signs and testified against the licensure of a second casino in the city.
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Three Chester County Apts. Get 'Freddie" Loans
FRAZER, PA-Centerline Capital refinances three Chester County apartment complexes, noting the market is affluent and very little construction is in the pipeline.
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Morgan/DRA JV Acquire 620-Unit Largo Rental Property
LARGO, MD-Morgan Properties and equity partner, New York City-based DRA Advisors LLC have formed a joint venture partnership to acquire Northampton Apartments, a 620-unit multifamily garden apartment community here from Equity Residential.
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Villanova Campus Expansion Plan Rejected
RADNOR, PA-While the Radnor Board of Commissioners has the final say on the matter, the expansion plan by Villanova University was soundly rejected earlier this week by the Radnor Township Planning Commission.
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