BLUESTONE REAL ESTATE CAPITAL SECURES $22.5MM FINANCING FOR TRINITY CAPITAL ADVISORS' ACQUISITION OF CASSFORD OFFICE COMPLEX IN BERWYN, PA
Philadelphia, PA – July 26, 2007 —
BlueStone Real Estate Capital has announced that it has secured $22.5 million of fixed rate acquisition financing on behalf of Trinity Capital Advisors (TCA) for a 131,000 square feet, five building office complex in Berwyn, Pa. The seller, a private non-rated company that is also the sole tenant, signed a 10-year lease with TCA at close. JPMorgan acted as the lender in this transaction.
"Deals like these are very difficult to finance, particularly in the securitized markets," said Matthew McManus, BlueStone's chairman. "Our expertise in this arena coupled with the experienced staff of Trinity Capital Advisors ensured the deal's success while satisfying all parties involved."
"This was the second successfully completed transaction we have conducted with BlueStone and we hope to continue to work with them on these types of sophisticated deals," said Olin Belsinger, Trinity Capital Advisors.
"Deals like these are very difficult to finance, particularly in the securitized markets," said Matthew McManus, BlueStone's chairman. "Our expertise in this arena coupled with the experienced staff of Trinity Capital Advisors ensured the deal's success while satisfying all parties involved."
"This was the second successfully completed transaction we have conducted with BlueStone and we hope to continue to work with them on these types of sophisticated deals," said Olin Belsinger, Trinity Capital Advisors.
