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The firm's new asset totals more than 530,000 square feet and includes such national tenants as Whole Foods, lululemon, L.L. Bean, Crate & Barrel, Pottery Barn, Sephora and Williams Sonoma.
Governor Wolf's budget includes plans to make more than $1 billion available to combat lead, asbestos, and other contaminants. The governor is also continuing to pursue $4.5 billion in funding through his Restore Pennsylvania plan, which will be used to upgrade and make repairs to Pennsylvania's aging infrastructure.
The firm, fresh off its announcement last month that it had initiated a $12-billion investment strategy for its student housing and residential divisions, has hired real estate veteran Russell Brenner as president of the new medical office and life sciences entity.
Penwood Real Estate, which is headquartered in West Hartford, CT, and Princeton, NJ-based Metrix Real Estate secured a three-year construction loan with two one-year extension options through Wells Fargo Bank for the project at 10 Princess Road.
City officials say the audit will ensure the city is receiving the maximum amount of revenue according to each individual PILOT agreement and any additional revenue found will be transferred to the Board of Education.