14C — August 9 - 22, 2019 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marej.com
P ennsylvania Lynn of MCA and Wallace of AMA were responsible for arranging financing in transaction Metropolitan Capital Advisors arranges Floating Rate Acquisition loan for a class A office building
UDUBON, PA — Metropolitan Capi- tal Advisors, Ltd. (MCA) in partnership with AMA Financial LLC has arranged a $7,915,000 float- ing rate bridge loan for the acquisition and lease-up of 800 Adams Ave. in Audubon. MCA and AMA (based in Pennsylvania), both members of the Real Estate Capital Alliance (RECA) , teamed up to facilitate the financing on behalf of a partnership spon- sored by Red River Asset Management . 800 Adams is a 65,716 s/f A
class A office building located in Audubon, which is a suburb located just outside of Phila- delphia. The business plan is to lease-up the building, which is currently 72% occupied, by leveraging the Property’s high-quality finishes and of- fering competitive lease rates to attract tenants. The acqui- sition loan was funded by a bridge lender that included a leasing reserve for accretive leasing at the Property. Scott Lynn , founding prin- cipal of MCA, and GreggWal- lace , president of AMA, were responsible for arranging the financing. Collectively the 20 independently owned firms that form RECA financed over $5.2 billion in debt and equity transactions in 2018. McMurray of NAI CIR organizes 5339 s/f lease
800 Adams Avenue
6345 Flank Dr. LEMOYNE, PA — The 5,339 s/f suite located at 6345 Flank Dr. in Dauphin Coun-
ty has been leased to Life Touch Na- tional School Studios from Rossmoyne, L P . L i f e - touch is the professional photography
Ida McMurray
company of choice for schools and families. IdaMcMurray, CCIM, SIOR , of NAI CIR , handled the transaction. For more than 80 years, Lifetouch has been the profes- sional photography company of choice for schools and fami- lies. Headquartered in Eden Prairie, MN., the enterprise is organized around four prima- ry business units operating in local communities across North America. Built on the tradition of “Picture Day”, Lifetouch cap- tures smiling faces from pre- school through high school graduation, as well as sports, special events, seniors and yearbooks; and also serves customers in JCPenney Por- trait Studios and Church communities.
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