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Counter Capital Closes Acquisition of Center City Philadelphia Mixed-Use Property
Friday 24 May 2019

24 May 2019 - Real estate investment manager Counter Capital Management LLC has closed on the USD 19.1m acquisition of Philadelphia-based mixed-use property in the Center City, the company said.
This purchase adds a marquee asset to Counter Capital's growing Philadelphia portfolio and advances its strategy of building scale in fundamentally strong urban centers.
With the acquisition of 1501 Locust Street, Counter Capital now owns and operates eight multifamily and mixed-use properties in Philadelphia.
Counter Capital's portfolio is tightly clustered in Center City, the largest job centre in the Philadelphia MSA due to its high concentration of employers in the education, health and life science industries.
Counter Capital Management is a real estate investment manager that invests in multifamily and mixed-use projects in select US markets.
Counter Capital Management is a strategic joint venture between Dalzell Capital Partners LLC and Morning Calm Management, which, through their affiliates, collectively own and operate more than four m square feet of commercial real estate and approximately 900 residential units across the United States.
Details
Date Published: 24/05/2019
Target: Philadelphia-based mixed-use property in the Center City
Country: USA
Deal Size: 19.1m (USD)
Sector: Construction/Real Estate
Type: LBO
Financing: Cash
Status: Closed
Vendor:
Buyer: Counter Capital Management
Comment:


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