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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