Great Valley Commerce Center sells for $73M

Rittenhouse Capital Advisors has successfully arranged the financing for the acquisition of the 356,000 square-foot class-A office building known as the Great Valley Commerce Center. Located in Malvern, PA, the property is fully leased to credit tenants. The property was acquired for $73 million, and Rittenhouse Capital placed the first mortgage financing with a national bank in the amount of $54.25 million, or 74 percent leverage. The loan was structured as a CMBS execution and carries a 10-year term with the interest rate fixed at 4.48 percent. It amortizes over thirty years.
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