S outheastern P ennsylvania
Real Estate Journal — Southeastern PA — October 12 - 25, 2018 — 5C
www.marejournal.com
M id A tlantic
HFF LP advises seller on the sale of assets Anchor Health Properties expands Philadelphia area presence with two building portfolio acquisition
H
cal locations servicing the Havertown/Broomall/New- town Square submarket that can accommodate standard clinical medical tenancy. Anchor has a multi-year redevelopment plan for the buildings that will fall under the leadership of the Com- pany’s development and prop- erty management teams and be spearheaded by Anchor’s senior director of construc- tion, Eric Forbes ; senior vice president of Asset Manage- ment, Jeff Zaleon ; and vice president of property manage- ment, Jill Higgins . Anchor and its institutional equity partner, the Carlyle Group , will invest several million dol- lars into updating each of the two buildings, bringing them up to a best in class standard and expanding the efficiency of each site. The improve- ments will allow Crozer and other tenancy the opportunity to expand and prosper over time and facilitate best in
class treatment for area pa- tients in a modernized medi- cal setting. Anchor’s chief investment officer, James Schmid stat- ed, “I am thrilled for the opportunity to invest in my hometown, having grown up in Marple Twp. These build- ings provide a mission critical service to the local commu- nity, and I am proud that the Anchor platform can take over ownership and bring enhance- ments to patient care and tenant experience at these locations. Anchor’s existing local market presence and relationship centric approach give us the ability to hit the ground running and immedi- ately commence the process of building modernization.” CIT provided debt financing on the transaction as a key investment partner for the Anchor platform. HFF LP advised the seller on the sale of the assets to Anchor and Carlyle.
AVERTOWN, PA — Ancho r He a l t h Propert ies (An-
chor) , a national full-service healthcare real estate devel- opment, management and investment company focused exclusively on medical fa- cilities, has recently closed on the acquisition of two strategic outpatient medical office buildings in suburban Philadelphia. With well over one million s/f of medical office space managed and/or under development in the Phila- delphia area, Anchor Health Properties is one of the largest medical office landlords in the region. Anchor’s CEO Ben Ochs said, “Philadelphia continues to be among the most strate- gic investment and develop- ment markets for the Anchor platform in the country. Our largest concentration of man- agement personnel has long been based in the market, which helps provide scale PHILADELPHIA, PA — Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for a two-property, transit-oriented apartment portfolio total- ing 821 units in the historic Chestnut Hill submarket of Philadelphia. The HFF teammarketed the portfolio on behalf of the seller. Goldman Sachs Asset Man- agement Private Real Estate (GSAMPRE) purchased the of- fering free and clear of existing financing. Additionally, HFF’s debt placement team worked on the new owner’s behalf to procure a 10-year, fixed-rate acquisition loan through TH Real Estate, an affiliate of Nuveen (the investment man- agement arm of TIAA). The properties included in the offering are Chestnut Hill Village and BlossomRow. The properties, which were bifur- cated in 2017, are situated on a total of 45 acres surrounding Market Square, an ACME
Havertown, PA portfolio
and resources to expand our relationships with health systems and medical tenancy in the region.” Anchor acquired two outpa- tient medical office buildings located at 2010 and 2050West Chester Pk. in Havertown, PA. The properties are located directly off the intersection of I-476 and Route 3, allowing them to service many points
west and north of the City of Philadelphia. Crozer Key- stone Health System func- tions as the anchor tenant, operating an ambulatory sur- gery center and a Cyberknife facility within the buildings. The balance of the tenancy includes best in class regional primary care and specialist medical tenancy. The campus is one of the few clinical medi-
Holliday Fenoglio Fowler, L.P. announces sale of and financing for 2-property apartment portfolio in Philadelphia
Chestnut Hill
Grocer-anchored shopping center, and adjacent to the Wyndmoor SEPTA regional rail station. Chestnut Hill Village comprises 704 units within 23 two- and three-story buildings. Blossom Row en- compasses 117 private-entry, two-story townhomes, which include fenced-in backyards and finished basements. Resi- dents have access to best-in- class amenities, which are highlighted by a community pool and a recently construct- ed clubhouse with fitness cen- ter. The portfolio is 96 percent occupied overall.
The HFF investment advi- sory team representing the seller included senior manag- ing directors Mark Thomson and Jose Cruz , senior direc- tor Carl Fiebig and director Fran Coyne . HFF’s debt placement team representing the new owner consisted of managing direc- tors Ryan Ade and Campbell Roche and director Michael Pagniucci . In a separate transaction, HFF announces the $5.95 mil- lion sale of a 4,585 s/f, single- tenant retail building fully occupied by Wawa in the Mont-
1111 Grosser Rd.
gomery County community of Gilbertsville. The HFF team represented the buyer, a private investor who purchased the asset as part of a 1031 exchange. The building is situated on 2.7 acres at 1111 Grosser Rd. in Gilbertsville, a community approximately 42 miles north- west of downtown Philadel- phia and 25 miles southwest of Allentown. Completed in 2015, the building is leased to Wawa, a chain of more than 800 convenience retail stores
in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Florida and Washington, D.C. The HFF investment adviso- ry team representing the buyer included managing director Marc Mandel and director Steve Schrenk . According to HFF, “The Wawa purchase was the re- sult of HFF executing across multiple product lines via a 1031 exchange. The buyer had recently sold an apartment property through HFF’s Phila- delphia multi-housing team.”
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