(To read more on the debt and equity markets, click here.)
BALA CYNWYD, PA-Philadelphia-based Amerimar Enterprises Inc. hasacquired Bala Pointe Office Centre, a 173,000-sf office property at111 Presidential Blvd. The price, according to Douglas Joseph,first VP in the Philadelphia office of CB Richard Ellis, "isapproximately $35 million," which translates to slightly more than$202 per sf.
The seller is Radnor-based Brandywine Realty Trust, whichretained a CBRE team headed by Joseph to market the property. Itsother members were Mike Hines and Robert Gahey, both CBRE SVPs.They procured the buyer and were the sole brokers in thetransaction. Jerry Sweeney, Brandywine's president and CEO,previously discussed plans to "selectively sell non-core MetroPhiladelphia-area assets."
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