P ennsylvania

S hopping C enters

Ranieri of NorthMarq’s Greater Westchester New York/Connecticut office finalizes refinance NorthMarq Capital negotiates $78.8m refinance of 768-unit Blair Mill Village East in Horsham, PA H www.marejournal.com M id A tlantic Real Estate Journal — Pennsylvania — 13A orsham, pa — Robert Ranieri , se- nior vice president/ seller/servicer relationship with Freddie Mac .

Conveniently located off of the Pennsylvania Turnpike and Rte. 611, the property is listed as 10 minutes to Fort Washington and benefiting from 55 landscaped acres. Apartment amenities include brand new windows, free hot and cold water, laundry center on site, pet friendly policies, online rental payments, patio/ balcony, spacious garden-style units, outdoor pool, updated fitness center, tot lot, trash removal, air conditioning, heating and resident parking. “As this was an existing Freddie Mac loan, we were able to waive a portion of the prepayment penalty and provide an 80 percent loan-to- value cash-out option,” said Ranieri. n

HI-LIGHTS February 10 - 23, 2017 managing director of North- Marq Capital ’s Greater Westchester New York/Con- necticut-based regional office finalized the $78.8 million refinance of Blair Mill Village East, a 768-unit multifam- ily property located on Blair Mill Rd. in Horsham. The transaction was structured with a 10-year term on a 30- year amortization schedule. NorthMarq arranged financ- ing for the borrower, Blair Mill Associates , through its

CBRE arranges the $25.5m sale of a class A 103,334 s/f, office building tenanted by Radial Blair Mill Village East

“How not to sell your listing short”

KingofPrussia, PA — CBRE Group, Inc. (CBRE) has arranged the sale of a class A 103,334 s/f, single ten- ant office building tenanted by Radial, Inc. (Radial) via a sale leaseback for a purchase price of $25.5 million. The four- story property, which serves as Radial’s corporate head- quarters, is located at 935 1st Ave. in King of Prussia. Robert Fahey , Jerry Kranzel and Erin Hannan of CBRE Capital Markets’ Institutional Properties team represented Radial during the transaction. “Quality assets, leased on a long-term basis to established companies are very much in demand,” said Fahey, ex- ecutive vice president, CBRE. “Investors are attracted to the stable returns offered by these investments and the security of a long-term lease with an industry leader such as Radial.” Radial, the leader in Om- nichannel Commerce tech- nologies and operations, has agreed to a 15-year triple-net lease. Radial is the recently combined operations of eBay

16A By Amy Hawley of Markward Group and Michael Jei tner of Bohler Engineering KLNB retail investment sales group brokers $17 million sale

935 1st Ave.


Volunteer Center linked more than 25,000 volunteers with agencies, businesses, schools and universities all across the Lehigh Valley. “Jody continues to be an inspiring leader of our board and is focused on board en- gagement, community rela- tions and increasing our brand awareness,” said Karen Daly Smith, CEO for the Volun- teer Center. “Based on Jody’s energy and effort, the Vol- unteer Center has been able to expand our programs and

Enterprise and Innotrac. Bethlehem, PA — CBRE announced that Jody King , vice president, CBRE, has been re-elected Board President at the Volunteer Center of the Lehigh Valley. This is Jody’s eighth year serving on the Board and her second year as President. The Volunteer Center, which began in 1982, is to- day’s premier apparatus for connecting local volunteers with community needs in the Lehigh Valley. In 2016, the

events with full support and commitment of the board.” “Working with the Volun- teer Center continues to be rewarding both personally and professionally,” said King. “We have built a strong foundation for all things that relate to volunteerism in the Lehigh Valley. I am excited to con- tinue to lead us toward the vision of the Volunteer Center which is – ‘To be the premier resource on volunteerism for the benefit of the community and organizations we serve.’” n




Made with FlippingBook - Online Brochure Maker