This Week’s Philadelphia Deal Sheet
JLL has hired Daniel Schneider as an executive director based in Philadelphia, the firm announced this week.
Working on its value and risk advisory team, Schneider will support JLL’s clients in the senior housing market as well as oversee all Department of Housing and Urban Development loan assignments nationally for its value and risk advisory platform.
He has previously run transactions and strategic advisory services for clients in the senior housing sector as well as in HUD advisory, according to the announcement.
Schneider joined JLL from a vice president role at Philadelphia’s CBRE office, where he spent close to a year, according to his LinkedIn profile. He also spent 18 years at Valuation & Information Group, including as a senior vice president.
“We are thrilled to welcome Dan to the Value and Risk Advisory platform,” Head of Alternative Real Estate Bryan Lockard said in a release. “His deep industry knowledge and track record of delivering strategic insights will further strengthen our capabilities in seniors housing and skilled nursing, which we see as a growing sector for our business.”
JLL’s annual Seniors Housing and Care Investor Survey and Trends report stated that 63% of respondents plan to increase their senior housing holdings in 2024, up 19% from last year.
SALES
SALES
Bryn Mawr-based real estate firm Alliance HP has purchased buildings in Plymouth Meeting and King of Prussia for a total $23.1M, according to the Philadelphia Business Journal.
The firm paid $11.3M for a vacant office building at 1 Innovation Drive and plans to convert the 143K SF space and add new loading docks and drive-in doors for flex industrial use.
Plymouth Meeting Title Holder LLC sold that building.
The firm also purchased a 81K SF warehouse at 550 S. Henderson Road in King of Prussia for $11.8M from King of Prussia CSC LP, which bought the building more than two decades ago, records show. The building is situated north of Interstate 76.
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JLL’s hotels and hospitality group arranged the sale of SpringHill Suites by Marriott Voorhees Mt. Laurel/Cherry Hill.
JLL represented the unnamed seller and buyer of the four-story, 117-suite property, located at 1031 Voorhees Drive in Voorhees, New Jersey.
Managing Director Ketan Patel as well as directors Phil White and Vasilis Halakos led JLL's Capital Markets Investment Sales and Advisory team on the deal.
CONSTRUCTION AND DEVELOPMENT
Commercial building permits have been issued for a $15M, 45K SF apartment project in the Kensington neighborhood at 2721 Ruth Street, at the intersection of East Lehigh Avenue and Kensington Avenue near a location of Temple University Hospital.
The four-floor multifamily residential building will offer 44 units. The building will have a roof deck and a roof deck access structure. Onsite parking will be provided for 17 vehicles.
THIS AND THAT
Brandywine Realty will offer free programming near the green space next to Schuylkill Yards just west of the Amtrak 30th Street Station, offering weekly music, food and fitness starting next week.
Square Season at the 1.3-acre Drexel Square begins April 8 and runs through October.
Events will include a rotating food truck lineup on Tuesdays and Thursdays from 11 a.m. until 2 p.m. See the schedule here. In addition, Skylyne Music Group will perform each Tuesday at noon.
