A joint venture between Bryn Mawr-based property-investment company Pembroke IV and Ten Capital Management of Cleveland has acquired the Valley Creek Corporate Center in Exton, according to real estate services firm HFF, which helped broker the deal.
The venture paid $45.3 million for the three-building office complex comprising 259,200 square feet near the confluence of Routes 202 and 30 and the Pennsylvania Turnpike, according to a release Thursday from HFF senior managing director Doug Rodio.
HFF also helped the buyer secure a $34 million loan from Barclays Capital to finance the acquisition, it said.
Completed in 2002, the Valley Creek Corporate Center is 95.2 percent leased, with tenants including Analytical Graphics Inc. and iPipeline, according to HFF.
The complex was purchased from an affiliate of CS Capital Management of El Segundo, Calif., according to records filed with the Chester County Recorder of Deeds.