Piatt Cos. completes a $69 million recapitalization of the 400,000-square-foot Tower Two-Sixty mixed-use trophy asset in downtown Pittsburgh.
Piatt Cos. has finalized a $69 million recapitalization of Tower Two-Sixty, a 400,000-square-foot mixed-use property located at 260 Forbes Ave. in downtown Pittsburgh. The transaction utilized a ground lease bifurcation sale, with Woodbranch Investments Corp. acquiring the underlying land, alongside leasehold financing provided by Dollar Bank. JLL Capital Markets managed the transaction on behalf of Piatt.
Completed in 2016, the LEED Silver-certified asset serves as Piatt’s headquarters and features 130,000 square feet of office space, a 197-key Hilton Garden Inn, 14,000 square feet of retail, and 321 parking spaces. The office portion of the tower is currently 95.6 percent occupied, with tenants including McGuire Woods, The Coury Firm, JLL, and Bank of America.
Permits are issued for a 24-unit mixed-use development located at 900-08 McKean Street in South Philadelphia.
Permits have been issued for a new mixed-use building located at 3310 Kensington Avenue in the Kensington neighborhood of Philadelphia.
Daily emails covering the projects and news that match your service area, building types, and the project stages you bid on.
Free now — first 50 founding members lock in 30% off at launch.
Free. One click to unsubscribe. No tracking pixels.