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. This loan was provided by the private banking arm of a major financial institution and was negotiated by Meridian’s senior managing director Morris Betesh and SVP Alex Bailkin from their New York City headquarters.
The 15-story property is situated at 100 Front St., West Conshohocken with 271,678 square feet total space. It is conveniently located near I-76 and I-476 highways as well as within walking distance to the train station.
Morris Betesh commented on this transaction: “This acquisition demonstrates that despite macroeconomic challenges within the office sector, trophy quality assets still have strong submarket tenancy.”
