The office portion of Center City's Two Liberty Place
tower sold last month for $219 million in Philadelphia's second biggest
commercial real estate deal so far this year.
The sale price for the 941,000-square feet of offices was
revealed in a Nov. 1 release
from Cousins Properties Inc. of Atlanta, which sold an interest in the
property during its most recent quarterly earnings period.
Cousins had acquired the Two Liberty offices through an
earlier merger with Orlando, Fla.-based Parkway Properties.
Coretrust Capital Partners LLC of Los Angeles said
on Oct. 20 that it had acquired the office portion of the Center City tower
through the purchase of "controlling interests in multiple Two
Liberty Place ownership entities."
The Two Liberty tower at 50 S. 16th St., which opened in
1990, comprises a total of 1.2 million square feet, including luxury
condominium units, a shopping center and a Westin hotel that are under separate
ownership.
Among this year's commercial real estate transactions,
the offices' $219 million price tag is second only to Brandywine Realty Trust's
sale
of the former 30th Street Post Office, now offices, for $354 million.
Source: Philly.com
No comments:
Post a Comment