Meridian Capital Group

Meridian Capital Arranges Acquisition Loan on Suburban Philly Offices

April 21, 2023

Meridian Capital Group arranged $59 million in acquisition financing for One Tower Bridge, a high-rise office tower located in the Philadelphia suburb of West Conshohocken, PA for Wilmington-based developer The Buccini / Pollin Group.

The loan was provided by the private banking arm of a major financial institution and was negotiated by Meridian senior managing director Morris Betesh and SVP Alex Bailkin, both based in the company’s New York City headquarters.

The 15-story property is located at 100 Front St. in West Conshohocken, and totals 271,678 square feet. The building is located at the intersection of Philadelphia’s major highways, I-76 and I-476, as well as a short walk from the train station.

“Despite the constantly evolving macroeconomic environment and challenges within the office sector, Buccini / Pollin Group’s recent acquisition of One Tower Bridge is a testament to the trophy quality of the asset and the strength of the submarket and tenancy,” said Betesh.

Featuring:
Morris Betesh
Senior Managing Director
Origination
(212)612-0105
[email protected]
Alex Bailkin
Senior Vice President
Underwriting and Loan Placement
(212)612-0194
[email protected]
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