Real Estate

Exeter Property Group Pays $85M For Pennsylvania Warehouse

by cpexecutive.com posted 1year ago 191 views
In 2018, the seller financed the 1.2 million-square-foot development with a $48.8 million loan from Regions Bank. : Exeter Property Group has finalized the $85 million acquisition of a Ritner Logistics Center, a 1.2 million-square-foot industrial property in Newville, Pa. A joint venture between Artemis Real Estate Property and Verus Partners sold the building. In 2018, the seller acquired the 85-acre development site at 3419 Ritner Highway for $18.8 from a private investor, according to DataTree. Regions Bank provided a $48.8 million construction loan for the project. The single-story facility was delivered in the fourth quarter of 2019.

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