Thursday, July 26, 2012

Brandywine Realty sells Phila.-area portfolio for $53M

by Natalie Kostelni
"Brandywine Realty Trust has unloaded its Exton, Pa., portfolio for $52.7 million, raking in a gain of $9.9 million on the sale.
Hayden Real Estate Investments of Conshohocken, Pa., reportedly bought the portfolio that consists of 10 single-story and one two-story office-flex properties totaling 466,719 square feet.

The properties were 81.6 percent leased at closing. The buildings were constructed between 1987 and 1999 and consist of: 412 Creamery Way, 429 Creamery Way, 436 Creamery Way, 440 Creamery Way, 456 Creamery Way, 457 Creamery Way, 467 Creamery Way, 468 Thomas Jones Way, 486 Thomas Jones Way, 111 Arrandale Blvd. and 481 John Young Way. Hayden already has a presence in the Exton office submarket."

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