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 spaces with high ceilings, limited columns and highly flexible workstations. Entirely new interior and exterior amenities include a 5,000 square foot amenity center and training facility, state-of-the-art fitness center, 24-hour “Grab & Go” café, dedicated food truck parking area, outdoor seating and a tenant recreation area.
Paul DiSandro, TCM’s Portfolio Manager, said, “Arbor Ridge has differentiated itself from a commodity office product in the region by offering tenants a state of the art modern design with an impressive amenity package. The result has created strong demand from tenants as evidenced by the 117,000 sf of new leases executed over the past 24 months. The Property’s strong tenant profile, diverse rent roll and significant remaining lease term should provide outstanding cash flow and strong risk adjusted returns to investors.”
Ben Adams, TCM’s CEO, said, “The acquisition of Arbor Ridge is consistent with our recent focus of securing high quality, stable, Class-A, amenity-rich suburban office opportunities, at a discount to replacement costs, with strong in-place cash flows, and in very affluent markets.”
Chester County is one of the region’s most desirable living destinations, with Malvern having one of the strongest demographic areas within Chester County.
About Ten Capital Management
Founded in 2011 and headquartered in Cleveland, Ohio, Ten Capital Management is a privately held real estate investment management firm investing across a broad spectrum of real estate strategies and seeks to deliver consistent, superior risk-adjusted returns to its global investor base, while remaining proactive, adapting quickly to changing market fundamentals and opportunities. TCM makes equity investments between $10 and $25 million, targeting transactions which are too large or complex for small, undercapitalized investors and which fall “below the radar” of larger institutional investors. For more information, please go to www.tencapmanagement.com.