SSH Real Estate

Portfolio

123 South Broad Street

123 South Broad Street Philadelphia PA

SSH acquired this 885,000 SF, two building complex, consisting of 123 S. Broad and The Witherspoon Building in a two-part transaction in 2008 and 2018. SSH completed its vision by separating the buildings while completing a recapitalization with an Institutional Equity Partner. SSH moved its headquarters to 123 S. Broad and is continuing to add value by increasing rents and upgrading this iconic property. The Witherspoon Building has been redeveloped into a 186-unit, 100% leased Apartment Hotel.

Tenant Mix

Wells Fargo, Universal Music Group, Brian Communications, Sonder
60 Tenants with a mix of creative, legal, non-profit and professional firms.

Strategy

Unwind a complicated condo structure, implement capital improvement program, upgrade the building and complete an aggressive leasing campaign to maximize NOI.