Brandywine Realty Trust, based in suburban Philadelphia, announced the sale of six office properties located in Mount Laurel, NJ and the refinancing One Commerce Square in Philadelphia with a first mortgage maturing in April, 2023.
The six suburban office buildings in Mount Laurel totaled 560,100 square feet and were sold for 56.5 million.
The refinancing of One Commerce Square was done with a $130 million first mortgage.
Proceeds will be used to fund current development commitments, reduce debt and general corporate purposes.
Earlier, the company announced other property dispositions that included a development parcel in downtown Wilmington that had been slated as the site of the final office tower at the Christina Gateway project in the south area of downtown.
JPMorgan Chase disclosed it was the buyer of the property which, at least for the short-term will remain a parking lot.
