March 2026

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ISSUE HIGHLIGHTS Volume 38, Issue 3 March 2026 KENNEDY FUNDING CLOSES $1.12M LOAN FOR FOREIGN NATIONAL BUYER

JLL Capital Markets secures sale and financing from QuadReal PCCP acquires 1.2M s/f distribution center in PA’s logistics corridor for $141.6M

The location delivers cost- effective access to major met- ropolitan markets including Harrisburg at 25 miles, Balti- more at 90 miles, Washington D.C. at 100 miles and Phila- delphia at 120 miles. The sur- rounding 30-minute drive area encompasses a population of 164,003 with a workforce of 81,128 and an average house- hold income of $102,066. The JLL Capital Markets team was led by senior manag- ing director John Plower and senior director Ryan Cottone . “The size and scale of this transaction demonstrates the strength of Pennsylvania’s in- dustrial market fundamentals, and the premium investors place on assets with direct Inter- state access,” said Plower. “The market’s exceptional trans- portation infrastructure and business-friendly environment make it a magnet for large-scale institutional capital.” MAREJ

EWVILLE, PA — JLL Capital Mar - kets announced the

$141.6 million sale of a premier class A industrial facility at 3419 Ritner Hwy. in Newville. JLL represented the seller in the sale to PCCP LLC . Working on behalf of the new owner, JLL also secured an $82 million acquisition loan through QuadReal Property Group , a global real estate investment, development and operating company. The state-of-the-art distri- bution center encompasses 1,215,240 s/f on a 93.17-acre site and maintains 100% oc- cupancy under a long-term lease with Newell Brands, a Fortune 500 manufacturer and distributor of consumer and commercial products. The company operates a di- verse portfolio of more than 50 brands across learning and development, home and

3419 Ritner Highway

INDUSTRIAL INVESTMENTS SECURES 113,085 S/F IN LEASES

commercial and outdoor and recreation segments. The 2020-constructed fa- cility showcases superior functionality with 36-foot clear heights, 120 dock-high doors expandable to 241, 437 trailer stalls, 265 car parking spaces and a 200-foot truck court depth. The property’s strategic positioning along Interstate 81 provides efficient distri- bution access throughout

Pennsylvania, Maryland, and Virginia, while maintaining connectivity to critical logis- tics hubs including the Port of New York/New Jersey, Port of Philadelphia, Newark Liberty International Airport and Philadelphia Interna- tional Airport. Located within the Northeast Distribution Corridor, the facility enables same-day delivery to over 100 million consumers across the Mid-Atlantic region.

21A

Rubenstein and Waterfall announce $127M refi. of Chesterbrook Office Campus in Suburban Phila.

Section B

has invested more than $50 million in capital, which in- cluded the creation of “The Circuit,” a centrally located, best-in-class amenity center that serves as a vibrant con- nector to the Chesterbrook campus community and pro- motes productivity and col- laboration. The amenity center features a food hall, outdoor gathering spaces with fire pits, high-tech meeting rooms, and a state-of-the-art fitness cen- ter along with a 20,000 s/f full service co-working suite. They have also upgraded the lob- bies, façades, and landscaping across most of the portfolio to create a modern and inviting tenant experience. Waterfall worked with Ru- benstein Partners to provide a flexible financing structure tai- lored to Rubenstein’s creative business plan. “We are excited to support a first-class operator in their core competency and market,” said Ezra Zucker , associate on Waterfall’s CRE lending team. MAREJ

KING OF PRUSSIA/ WAYNE PA — Rubenstein Partners, L.P. (including its affiliates, Rubenstein) secured a $127 million refinancing of Chesterbrook, the 1.1 million s/f, 14-building office campus in the King of Prussia/Wayne PA submarket, part of the greater Philadelphia region. The new loan, provided by funds managed by Water- fall Asset Management ’s

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Chesterbrook Amenity Center

(Waterfall) commercial real estate lending platform, in conjunction with a significant investment of new equity from Rubenstein along with some third parties, recapital- izes the property to drive the company’s long-term business plans for the class A office campus. The loan is comprised of upfront proceeds as well as funding to support future leas- ing and capital improvements. The loan will also support Rubenstein’s continued stra- tegic leasing efforts and allow the company to reinvest in the

property in ways that will fur- ther boost the asset’s reputa- tion as a leading office campus in suburban Philadelphia. The CBRE Capital Mar- kets team of Shawn Rosen- thal, Jason Gaccione, Jake Salkovitz and Justin Helbling worked in partner- ship with CBRE’s National Office Partners - Philadelphia team of Doug Rodio, Jerry Kranzel and Bruer Kersh- ner to secure the financing on behalf of Rubenstein. Since acquiring the office portfolio in 2019, Rubenstein