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REA
February 21, 2018  

NEW DEALS

Philadelphia Office BuildingAmerican Real Estate Partners and Independenica Asset Management will see a 7% initial annual yield on the $160 million purchase last week of the 826,000-square-foot office building at 1600 Market Street in Philadelphia. The partnership plans to boost that yield by increasing the occupancy rate, now about 82% but set to drop 10 percentage points when anchor tenant PNC reduces its space next year. HFF handled the sale...


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