PHILADELPHIA-Chevy Chase-based Federal Capital Partners has acquired 1616 Walnut St. in Philadelphia for an undisclosed price. The company has tentative plans to turn the 25-story building into residential units.
Federal Capital Partners bought the property, which measures nearly 280,000 square feet of space, through a joint venture partnership with 806 Capital and Cross Properties. Jones Lang LaSalle Inc. has been retained to manage the property. Isard-Greenberg Co. was the seller of 1616 Walnut. For the full story, go to Philadelphia Business Journal .
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