CEO Gary DeSanto tells the company expects to closeon a 153,000-sf class A office complex in the Harrisburg marketwithin three weeks and has two Pittsburgh-area projects aggregating800,000 sf in the pipeline. All of the company's acquisitions arein behalf of TIC investors.

DeSanto paid approximately $22 million for the three-building,123,379-sf CrumsMill complex in late June, as reported at Citibankprovided a loan of approximately $14 million for the acquisition,DeSanto says. The remaining equity investment of slightly more than$7.9 million is spread among 19 TIC investors. Calabasas, CA-basedAFA Financial served as managing broker-dealer on the transaction.In August 2005, DeSanto paid $13.5 million for the 90,000-sf YellowBreeches Office Park in Harrisburg, which is also fullysubscribed.

"There are very few TIC properties on the East Coast, let alonePennsylvania," he says. "But, interest in these kinds ofinvestments is growing here." DeSanto plans to continue investingin the area. Following its third planned Harrisburg buy, he willturn his attention to the western area of the state.

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