Monday, October 22, 2018

Equus Acquires Five Tower Bridge in Conshohocken

by Steve Lubetkin,
Equus Capital Partners has acquired Five Tower Bridge, a trophy office development in the West Conshohocken submarket of Philadelphia, for $75.65 million from local developer and investor MIM-Hayden Real Estate Fund I.

The purchase includes an existing eight-story, 222,058-square-foot class A office building located at 300 Barr Harbor Drive.
 $48 million financing package was arranged a for the buyer through Metlife.

“This building is widely considered to be the premier office tower in the suburbs and has the added attraction of offering the value-add opportunity to develop an additional building in a prime riverfront location within one of the most desirable submarkets in the region."

Five Tower Bridge was built in 2001 and is sited in a transit-oriented, live-work-play market with excellent access to the region’s major roadways. The property is just a 25-minute drive from Center City.

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