100 Brandywine, Newtown PA
A unique opportunity to partner with a proven Class A office operator in the acquisition of a stabilized asset with value-add potential over the long-term
Scenario
A national office operator, with whom we have a very strong relationship and history (the “Sponsor”), approached EastAlliance with the opportunity to invest in this well-located and well-positioned Class A office building in a market with strong demographics and proven long-term fundamentals. Not only does the asset boast a diverse list of tenants representing a wide range of growing industries (e.g. biopharma), but the business plan calls for minor reconfigurations to optimize under-utilized space, further strengthening its marketability to potential tenants.
Given the supply dynamics in the immediate area; its excellent location relative to its competitive set; its price relative to replacement cost (and substantial discounts to previous valuations); an attractive debt structure from a top-tier bank; and the Sponsor’s strong track record in the market and sector, EastAlliance agreed to join this trusted and experienced partner with an LP equity investment alongside a consortium of international and domestic real estate investors.
Asset
This Class A approximately 105,000 SF, three (3) story office building was built in 2002 and is generally configured into symmetric and open floor plates that are easily divisible to accommodate future changes in tenancy. Furthermore, its location between the Philadelphia and Princeton markets will likely continue to draw on innovative life sciences firms and ancillary service industries over the long term, as this location boasts unique access to a highly educated employee base.
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