PITTSBURGH–Quattro Investment Group has secured $53.7 million in construction financing for its planned two-building, 336,000-square-foot Class A office campus in Southpointe Office Park located 15 miles southwest of downtown Pittsburgh.
The three-year construction loan was arranged by HFF, which worked exclusively on behalf of Quattro Investment Group, to secure the construction loan through Wesbanco Bank with First Commonwealth Bank and First National Bank as participants.
Due for completion in October 2014, the project will consist of an 186,000-square-foot, LEED certified, five-story building that is a build-to-suit for the world headquarters of Ansys, plus a 150,000-square-foot speculative office building. The properties are situated on a 21-acre site within Southpointe Office/Industrial Park.
The HFF team was led by Senior Managing Director Mark Popovich and Managing Director Matt Kafka.
Jim Scalo, president of Burns & Scalo Real Estate Services and managing partner of Quattro, states, “This is an incredible development in a very tight office market. Based on the activity in the market, we anticipate that the speculative office building will be leased before construction is completed.”
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