R&E served as legal counsel for The Durst Organization in its purchase from Brandywine Realty Trust of a net lease interest in “The Piers at Penn’s Landing,” located in Philadelphia, Pennsylvania. The site consists of Piers 12-15, 19 and 24 North situated along the Delaware River waterfront and is one of the main attractions in Philadelphia for residents and tourists alike. The property currently is home to a Dave & Buster’s entertainment complex, a Hibachi Japanese Steakhouse, Morgan’s Pier beer garden, the Philadelphia Marine Center marina, and a parking facility operated by DLC Management. The purchase of the Piers at Penn’s Landing is Durst’s first acquisition outside of New York and is an excellent example of their eye for investments that offer potential for growth and development that can change entire cities. R&E’s services on this matter included analyzing a complex title structure involving several government agencies and navigating through peculiar legal matters inherent in waterfront properties. R&E looks forward to continue providing outstanding service in support of Durst’s endeavors in Philadelphia and elsewhere.
(Closed: March 15, 2017)
(Rosenberg & Estis, P.C. Team)