SSH Real Estate

230 South Broad Street


Location

230 South Broad Street, Philadelphia, PA

Size

215,000 SF Class B office building

Purchase Date

June, 2005

Purchase Price

$21,700,000 ($102 per SF)

ACQUISITION

SSH Real Estate, Young Capital, and JOSS Realty Partners acquired

this 215,000 SF Class B office building from Amerimar Enterprises.

EXECUTION

After the implementation of an aggressive leasing campaign the occupancy rate was increased above 95% and rental rates increased from $17.50 to $21.50 per square foot net of electric. Expenses were also reduced by approximately 10% while maintaining the building as a Class B asset.

RESULTS

With stable cash flow to investors, favorable fixed, long-term financing and tremendous upside based on its residential conversion potential, our plan is to continue to hold this asset for the long term.

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