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The transaction was executed at an approximate 7.86% initial capitalization rate with rents of $34.2 million and a weighted average remaining lease term of 8.7 years.
The office tower will be fully leased by global pharmaceutical and healthcare products distribution firm AmerisourceBergen. The office complex will serve as the global headquarters for the company.
Running up to the year-end, many retail investors are thinking about gleaning insights to optimize their store counts and address logistical challenges for an omni-channel retail platform.
PGIM Real Estate Finance arranged the $150 million refinancing for Greenwich Plaza, a two-building office complex located in the central business district of Greenwich, Connecticut.
The renovated and expanded building will feature floor plates of 15,295 rentable square feet and will total 93,535 rentable square feet in total when completed.