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Josh Brown

Ten Capital Management Acquires Valley Creek Corporate Center in Exton, PA for $45.3M

Three Class A office buildings in a strong submarket, with 95% occupancy, long-term leases and attractive cash-on-cash returns CLEVELAND, OHIO, June 9, 2017 – Ten Capital Management (“TCM”) today announced its acquisition of Valley Creek Corporate Center, a 259,163 square feet, Class A office complex located at 220, 222 and 224 Valley Creek Boulevard in the Exton/Malvern submarket of Chester County, Pennsylvania, close to I-95,I-476, I-76 and the recently expanded US Route 202. The seller is CS Capital Management, Inc., a real estate investment management and advisory company based in California. The Property is 95% leased to a diverse mix of high quality tenants. The five largest tenants, who make up 84% of the rent roll with a combined average weighted lease term of 6.2 years, use Valley Creek as their global corporate headquarters. The Property offers ample surface parking, food service, on-site walking trails and provides tenants with immediate…

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Investors chase suburban-core deals as Millennials trickle out of cities

Ben Adams, CEO of Ten Capital Management was featured in an article this month by Sondra Campanelli of Real Estate Finance & Investment titled Investors chase suburban-core deals as Millennials trickle out of cities. The article interviewed prominent commercial real estate investors about the opportunities in suburban-core as Millennials look to trade their rent payments for mortgages.  Adams says in the article, “We have tended to focus in affluent suburbs of ‘gateway cities’ in close proximity to public and private transportation. These suburbs tend to be characterized by high household incomes, high residential property values as well as high levels of educational attainment and comparatively low crime rates.”  Adams added, “When they (Millennials) do decide to form households, our hunch is that many of them will not feel so comfortable raising a family in a really cool live/work/play micro-unit that offers below par public school options.” To read the full…

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Ten Capital Management Sells Wind River Industrial Park in Las Vegas for $15.15M

Acquired in November 2014 for $9.1M, sale is two years ahead of original business plan and generated net IRR of 28.91% and 1.73x multiple for TCM investors CLEVELAND, OHIO, January 31, 2017 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced the sale of Wind River Industrial Park for $15.15M. The Property, located in Las Vegas, is in a highly desirable Southwest submarket, within close proximity to the Palms Hotel and one mile from the Las Vegas Strip.  The Property was sold to MCA Realty, Inc. two years ahead of TCM’s original business plan and has generated a net IRR of 28.91% and a 1.73x multiple for TCM investors. TCM exceeded original pro forma expectations with the sale, which projected a net IRR of 13.7% and a 1.63x multiple, respectively. TCM acquired Wind River in November 2014 for $9.1M. At the time of purchase,…

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Ten Capital Management Acquires One Conway in Lake Forest, IL for $19.35M

Recently renovated Class A office building in one of the wealthiest suburbs in Chicago has 94% occupancy with long-term leases and can provide strong cash-on-cash returns to investors CLEVELAND, OHIO, November 21, 2016 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced its acquisition of One Conway (or the “Property”) for $19.35M. The Property is located on North Field Drive in Lake Forest, IL and was purchased from a joint venture between Sam Zell’s Equity Group Investments LLC and Fulcrum Asset Advisors LLC. The Property is 94% occupied to a diverse mix of tenants, and is newly renovated.  The highly-amenitized three-story building is a multi-tenant Class A boutique office building comprising 105,000 sf and is located in the affluent Chicago suburb of Lake Forest, Illinois.  The asset is strategically located at the four-way interchange of Interstate 94 and Route 60 (Townline Road), within Conway…

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Ten Capital Management Acquires Arbor Ridge in Malvern, Chester County, PA for $24.25M

Recently redeveloped property is a stable asset with long-term leases offering predictable in-place cash flow and attractive risk adjusted investment opportunity CLEVELAND, OHIO, November 7, 2016 – Ten Capital Management (“TCM”), a privately held real estate investment management firm, today announced its acquisition of Arbor Ridge (“Arbor Ridge” or the “Property”) for $24.25M. The Property is located on E. Swedesford Road in Malvern, PA and was purchased from Alliance Partners HSP. Arbor Ridge consists of three one- and two-story Class A office buildings with a combined net rentable area of 128,627 square feet and is currently 91% leased to a diverse mix of high-quality tenants. The Property sits on 16.98 acres at the heart of the Route 202 high-tech corridor in Malvern, with convenient access to Routes 202, 29, 30 and Interstate 76. Arbor Ridge was completely redeveloped over the past 24 months with a modern focus on creative office…

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Ten Capital Management acquires Stone Manor Corporate Center in Pennsylvania for USD19.75m

Real estate investment management firm Ten Capital Management (TCM) has acquired Stone Manor Corporate Center for USD19.75 million. The Property is located on 2600 and 2700 Kelly Road in Warrington, Pennsylvania and was purchased from Cornerstone Real Estate Advisors. Stone Manor is currently 100 per cent occupied and is comprised of two, three-story, Class A office buildings with a combined net rentable area of 121,535 square feet. Frontage along Easton Road (Route 611) affords Stone Manor immediate access to Route 202 and Interstate 276 (The Pennsylvania Turnpike), and subsequently provides the Property with exceptional linkages to Philadelphia, Trenton, and the northwestern suburbs of Bucks and Montgomery Counties. Stone Manor contains the amenities of two on-site hotels, a retail bank, and a full-service restaurant on a privately wooded, 31.9-acre campus just minutes from the most desirable neighbourhoods, school districts, and consumer attractions that Doylestown and Bucks County have to offer. Bucks…

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Ten Capital of Ohio Gets 121K-SF PA Office

Commercial Real Estate Direct Ten Capital of Ohio Gets 121K-SF PA Office June 29, 2016 Ten Capital Management has paid $19.7 million for Stone Manor Corporate Center in Warrington, PA. The Cleveland-based investor acquired the 121,535-square-foot office property from Cornerstone Real Estate investors. Located at 2600 and 2700 Kelly Rd., Stone Manor is 100% occupied. Frontage along Easton Road (Route 611) means the building has access to Route 202 and Interstate 276 (The Pennsylvania Turnpike), providing links to Philadelphia, Trenton, and the northwestern suburbs of Bucks and Montgomery Counties. “Stone Manor presents an opportunity to acquire an institutional-quality asset in a strategic location with good demographics and access to on-site amenities and nearby retail,” said Ben Adams, the CEO of TCM.

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Ten Capital Management Acquires Stone Manor Corporate Center in Warrington, Bucks County, PA for $19.75M

CLEVELAND–(BUSINESS WIRE)–Ten Capital Management (“TCM”), a privately held real estate investment management firm today announced its acquisition of Stone Manor Corporate Center (“Stone Manor” or the “Property”) for $19.75M. The Property is located on 2600 and 2700 Kelly Road in Warrington, PA and was purchased from Cornerstone Real Estate Advisors Stone Manor is currently 100% occupied and is comprised of two, three-story, Class A office buildings with a combined net rentable area of 121,535 square feet. Frontage along Easton Road (Route 611) affords Stone Manor immediate access to Route 202 and Interstate 276 (The Pennsylvania Turnpike), and subsequently provides the Property with exceptional linkages to Philadelphia, Trenton, and the northwestern suburbs of Bucks and Montgomery Counties. Stone Manor contains the amenities of two on-site hotels, a retail bank, and a full-service restaurant on a privately wooded, 31.9-acre campus just minutes from the most desirable neighborhoods, school districts, and consumer attractions that…

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Ten Capital inks deal for suburban Philadelphia office

Ten Capital inks deal for suburban Philadelphia office http://realestatefinanceinvestment.com/news/ten-capital-inks-deal-for-suburban-philadelphia-office/ Ten Capital inks deal for suburban Philadelphia Ten Capital Management has completed the acquisition of Stone Manor Corporate Center, paying seller Cornerstone Real Estate Advisors $19.75m for the property at 2600 and 2700 Kelly Road in Warrington, Pa. The company liked the asset given its proximity to Philadelphia as well as the ability to achieve consistent, risk-adjusted returns on a property that is fully leased and stabilized, said Ben Adams, ceo and founder. The Cleveland-based investment company, which looks to make equity investments of $10- 25m, could hold the property for five years or longer. “If our thesis is correct that demand will persist, while our initial business plan is for five years, we may have the flexibility to hold on for a much longer time,” Adams added. “We like the submarket and the demographics in the surrounding area.” The 121,535-square-foot,…

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Ten Capital Management Participates in Women’s Alternative Investment Summit in New York

Ten Capital Management Participates in Women’s Alternative Investment Summit in New York COO Carmela Guerrero addresses the opportunities and challenges in middle market real estate investing in a rising rate environment CLEVELAND, OHIO, November 11, 2015 – Carmela Guerrero, COO of Ten Capital Management, joined a panel of industry professionals for the 7th Annual Women’s Alternative Investment Summit, where she focused on opportunities and challenges in the real estate space in a potentially rising rate environment. The two-day conference designed to enhance networking, fundraising, and deal-making opportunities for senior-level women across the broad spectrum of alternatives, including private equity, venture capital, hedge funds, real estate, debt, infrastructures, and real assets, took place at the Pierre Hotel in New York City from November 5-6. Guerrero was part of a panel entitled “Can GPs Meet the Expectations of LPs Investing in Real Estate?” that included Meagan Nichols, Deputy Head of Global Investment…

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