Wednesday, November 13, 2019

Strategic Funding Alternatives Buys Cherry Hill Office Portfolio for $33M

by John Jordan Globest.com
The three-building Woodland Falls office complex here has changed hands in a $33-million deal.

Moorestown, NJ-based Strategic Funding Alternatives acquired the 217,986-square-foot complex from Crown Properties.  SFA secured a 10-year, $24.75-million fixed-rate acquisition loan for the portfolio that is located near Center City Philadelphia.

The Woodland Falls corporate park currently has an occupancy rate of approximately 97% and is home to tenants that include PNC Bank, Corcentric LLC, Ballard Spahr LLP, 1st Colonial Community Bank and M&T Bank.

SFA managing principal, Jeffery Schneider states, “With its convenient location and parklike setting, Woodland Falls has been a long sought-after corporate park and we look forward to further strengthening its appeal.”

SFA reports it has plans for common area and landscaping improvements to Class A office complex. The deal is largest acquisition to date for the privately-held eal estate investment firm that was founded in 2016.
www.omegare.com

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