A joint venture between Bryn Mawr-based
property-investment company Pembroke IV and Ten Capital Management of Cleveland
has acquired the Valley Creek Corporate Center in Exton, according to real
estate services firm HFF, which helped broker the deal.
The venture paid $45.3 million for the three-building
office complex comprising 259,200 square feet near the confluence of Routes 202
and 30 and the Pennsylvania Turnpike, according to a release Thursday from HFF
senior managing director Doug Rodio.
HFF also helped the buyer secure a $34 million loan from
Barclays Capital to finance the acquisition, it said.
Completed in 2002, the Valley Creek Corporate Center is 95.2
percent leased, with tenants including Analytical Graphics Inc. and iPipeline,
according to HFF.
The complex was purchased from an affiliate of CS Capital
Management of El Segundo, Calif., according to records filed with the Chester
County Recorder of Deeds.
Source: Philly.com
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