PARKWAY CENTER -PITTS
Property: Office Building Portfolio
Location: Pittsburgh, Pennsylvania
Deal: Real Estate Acquisition
Transaction Summary: JDI entered into a joint venture with an office-focused investment group to purchase a seven building, 610,000 SF office building portfolio located in Pittsburgh. At acquisition, the portfolio occupancy was well below market due to a lack of investment from the previous owner. JDI invested $10+ million on capital improvements and leasing costs to stabilize the Property which has created significant value over the total cost basis.