Investcorp acquires suburban Philly properties

Massive amount of space changes hands

Investcorp has acquired four office buildings and one industrial asset totaling 638,626 square feet located in separate suburban submarkets of Philadelphia, Pennsylvania. The total value of the transaction was not disclosed. The portfolio was purchased from affiliates of O'Neill Properties Group, a real estate development company headquartered in King of Prussia, Pa. The properties include: Horizon One, a 128,309-square-foot office building in Trevose; Rittenhouse II, a 43,519-square-foot office building in Trooper; Malvern Executive Center A, an 89,912-square-foot office building in Malvern; PNC Bank Building, a 48,626-square-foot office building in Norristown; and Otis Elevator Building, a 328,260-square-foot industrial building in Hatfield. Investcorp's New York-based team of real estate professionals invests in office, retail, industrial and residential properties. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....

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