{"id":1004180079,"date":"2017-06-12T04:38:53","date_gmt":"2017-06-12T12:38:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004180079"},"modified":"2022-12-09T00:15:47","modified_gmt":"2022-12-09T08:15:47","slug":"philly-area-office-trades-lands-45m-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/philly-area-office-trades-lands-45m-financing\/","title":{"rendered":"Philly-Area Office Trades, Lands $45M Financing"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/em><\/p>\n

\"Valley<\/a>

Valley Creek Corporate Center<\/p><\/div>\n

Valley Creek Corporate Center, a 259,200-square-foot office complex in Exton, Pa., has come under new ownership in a transaction valued at $45.3 million. HFF\u00a0marketed the Philadelphia-area property on behalf of the seller, a real estate investment management and advisory company, and orchestrated financing for the buyer, a joint venture of Pembroke IV and Ten Capital Management.<\/p>\n

Developed by Rubenstein Partners, the three-building Valley Creek at 220, 222 and 224 Valley Creek Blvd. made its debut in 2002. \u201cThis \u2018best-in-class\u2019 asset boasts an impressive mix of global corporate headquarters and credit worthy tenants and is situated in the Route 202 corridor, one of suburban Philadelphia\u2019s most desirable locations,\u201d<\/em> Doug Rodio, senior managing director with HFF, said in a prepared statement. The property, sited roughly 30 miles from Philadelphia, is 95.2 percent leased and counts Analytical Graphics, iPipeline and Autotrader.com among its occupants.<\/p>\n

HFF PULLS DOUBLE DUTY<\/h2>\n

HFF\u2019s investment sales team reeled in a buyer for Valley Creek, then the firm\u2019s debt placement team secured acquisition funds for the Pembroke-Ten Capital joint venture through Barclays Capital. The financing came in the form of a 10-year loan featuring a fixed rate of 4.30 percent. In 2013, the asset also landed $23.1 million through PNC Bank.<\/p>\n

Earlier this month, the firm closed the $101 million sale of a 700,000-square-foot suburban office portfolio in the Tampa area, and arranged approximately $68 million in acquisition financing for the buyer. In May, HFF facilitated the sale of the 375,000-square-foot McGowin Park shopping center in Mobile, Ala., and secured a $43 million acquisition loan on behalf of the owner. The firm also completed the $28.1 million sale of the 93,600-square-foot mixed-use City Centre office and retail center<\/a> in Palm Beach Gardens, Fla. and arranged $20.3 million in financing for the buyer.<\/p>\n","protected":false},"excerpt":{"rendered":"

HFF\u2019s investment sales team reeled in a buyer for Valley Creek Corporate Center, then the firm\u2019s debt placement team secured acquisition funds for the Pembroke-Ten Capital joint venture through Barclays Capital.<\/p>\n","protected":false},"author":969,"featured_media":1004180092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21825,21783,21742,10,21747,1494],"tags":[32934,32792,36039],"class_list":["post-1004180079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-finance","category-investment","category-latest","category-northeast","category-office","category-philadelphia","tag-barclays","tag-hff","tag-rubenstein-partners-lp"],"acf":[],"yoast_head":"\nPhilly-Area Office Trades, Lands $45M Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/philly-area-office-trades-lands-45m-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philly-Area Office Trades, Lands $45M Financing\" \/>\n<meta property=\"og:description\" content=\"HFF\u2019s investment sales team reeled in a buyer for Valley Creek Corporate Center, then the firm\u2019s debt placement team secured acquisition funds for the Pembroke-Ten Capital joint venture through Barclays Capital.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/philly-area-office-trades-lands-45m-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-12T12:38:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:15:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/Valley-Creek-Corporate-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"601\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-office-trades-lands-45m-financing\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/philly-area-office-trades-lands-45m-financing\/\",\"name\":\"Philly-Area Office Trades, Lands $45M Financing - 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