Torchlight Provides $41 Million of Acquisition Financing on a Class-A Lehigh Valley Office Complex

 
March 26, 2015 - PRLog -- Pennsylvania (March 25, 2015) -- Torchlight Investors today announced that it has provided $41 million of acquisition financing on a Class-A, multi-tenanted, institutional quality office property, located in Allentown, Pennsylvania.  The investment is the first asset funded by Torchlight Debt Opportunity Fund V which is targeted at $1 billion of total capital commitments and recently completed its initial close with over $360 million in commitments.

The 556,000 square foot facility is situated on an expansive 142-acre site and includes two, three-story buildings.  Originally constructed as a corporate headquarters in 2002, the property features best-in-class construction quality with 10-foot finished ceilings, floor-to-ceiling windows and flexible floor plates.  In addition, the property has first class amenities such as a full-service cafeteria, fitness center, conference space, advanced security systems, a heliport, a Tier 4 data center and attached parking garages.

The Lehigh Valley has become a hub for employers in the health care, life sciences and technology sectors seeking a more favorable business climate near some of the nation's largest metropolitan areas of New York, Philadelphia, and Washington D.C.  The property is leased to high credit quality institutional tenants including Intel, Avago Technologies, St. Luke's Health Network and United Way.

“With its favorable tax climate and close proximity to New York and Philadelphia, growth in the Lehigh Valley has surged over the past two decades and is a top-performing region for economic development.  We are excited to work in this region with an experienced sponsor that has successfully repositioned over 20 million square feet of competitive space” said Steve Schwartz, Managing Director of Acquisitions.

End.

About Torchlight

Torchlight Investors is an independent investment management firm focused on commercial real estate debt and other interests relating to commercial real estate.  Since its inception in 1995, Torchlight has acquired over $20 billion in public and private commercial real estate investments and has $4.0 billion of assets under management.  Torchlight has launched nine investment funds including eight opportunistic and value-added funds.  In addition, Torchlight’s affiliate, Torchlight Loan Services, is the named special servicer on $27.7 billion in CMBS and manages over $1.9 billion of distressed commercial real estate loans.

*          *          *

Media Contact
Torchlight Investors
***@torchlightinvestors.com
2128832723
End
Source: » Follow
Email:***@torchlightinvestors.com
Posted By:***@torchlightinvestors.com Email Verified
Tags:Torchlight Investors, Acquisition Financing, Lehigh Valley, Lehigh Valley Office, Lehigh Valley Office Complex
Industry:Financial, Real Estate
Location:United States
Subject:Deals
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Torchlight Investors News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share