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1000 Westlakes Drive

Accesso Partners Acquires Office Portfolio In Berwyn, PA From Keystone Property Group
SOLDOffice

Accesso Partners Acquires Office Portfolio In Berwyn, PA From Keystone Property Group

1000 Westlakes Drive

$135,000,000

$296/SF

Building Size

455,183 SF

Asset Type

Office

Closing

Nov 2, 2021

AI

The office property located at 1000, 1055, 1205, 1235 Westlakes Drive in Berwyn, PA has been sold in a transaction completed on November 2, 2021. The property spans over 40 acres and belongs to Keystone Property Group, represented by Bill Glazer. The buyer in this transaction is Accesso Partners, represented by John Rivard. The sale was facilitated by JLL as the brokers involved.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $135,000,000
  • Square Footage: 455,183
  • Price Per Square Foot: $297
  • Address: 1000, 1055, 1205, 1235 Westlakes Drive, Berwyn, PA
  • Market: Berwyn, PA

Accesso Partners, represented by John Rivard, acquired the property from Keystone Property Group, represented by Bill Glazer. The transaction showcases a significant investment in the office asset market. The deal demonstrates the continued interest in real estate opportunities in Berwyn, PA.

Players

Accesso Partners
Accesso PartnersBrokerage

John Rivard

Buyer

$135M

vol

2 deals

Buyer

Berwyn Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93