Philadelphia

At a special meeting last week, the board authorized the university administration to negotiate a public/private partnership with the Atlantic City Development Corp. for the development and financing for the phase two housing project.

Svizeny will lead OceanFirst's expansion in the metropolitan Philadelphia market area, which the $8-billiom bank states is a strategic priority.

The $17.3-million purchase was financed by BlueHub Capital, formerly known as Boston Community Capital, using Capital Magnet Funds from the U.S. Department of Treasury, and by Citi Community Capital, using a combination of Affordable Housing Catalyst funds and acquisition bridge debt financing.

Iovance expects to invest approximately $75 million over three years for equipment and construction of the manufacturing suites. The company expects the new facility at the Philadelphia Navy Yard will be completed in approximately two years.

Raytheon signed a seven-year lease deal for approximately 134,000 square feet at the recently redesigned 706,000-square-foot complex that previously housed Wang Laboratories.

Commercial real estate finance and investment firm Virtua Credit reports that it facilitated a $14-million bridge loan for the hotel that was built in 1999 and renovated in 2017.

The new leases, include the Heart House taking 9,450 square feet, Jefferson Health securing 7,700 square feet and AdvoCare committing to 3,100 square feet, which collectively bring the property to full occupancy.

Upon the closing of the deal, which is expected in the third and fourth quarter of this year, RoundPoint will become a wholly-owned subsidiary of Freedom Mortgage.