Congratulations to Dan
Dirscherl and the entire Hunter Roberts’ construction team on winning
this prominent and long awaited project.
Brandywine Realty Trust has formed a joint venture with a
partnership consisting of LCOR and the California State Teacher's Retirement
System to construct 1919 Market St. in Philadelphia.
It will begin construction on the 29-story,
455,000-square-foot mixed-use project soon and expects to complete the building
by spring 2016.
The development will have 321 apartments, 24,000 square
feet of office and commercial space that is 90 percent pre-leased Independence
Blue Cross and CVS as well as a 315-vehicle parking garage.
As part of the arrangement, Brandywine of Radnor, Pa.,
contributed the land to the development team and it will manage the retail and
parking components of the project. The company has closed on $89 million in
secured financing and its total equity in the deal is $30 million.
Barton Partners designed the building. Hunter Roberts
Construction Group is the construction manager. LCOR is based in Berwyn, Pa.,
and CalSTRS bought a majority interest in the company in 2012.
Source: Philadelphia
Business Journal
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