Arden Group, a Philadelphia-based real estate group, agreed
to pay $43.5 million, or $171 per square foot, for 100 and 200 Four Falls
Corporate Center in West Conshohocken, according to a person familiar with the
transaction. The complex, which is 24 percent vacant, had been given up to a
debt investors' trust after its former owners, the California teachers' pension
system and its real estate manager, stopped payments on nearly $100 million
borrowed to buy the complex. Arden confirmed that it bought the property, but
did not note the price. Starwood Property Trust financed the sale, according to
Arden's statement. - Joseph N. DiStefan
Source: Philly.com
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