Brandywine Realty Trust Partnership Sells Hotel for $26.5 million

A partnership with Brandywine Realty Trust has sold the Residence Inn Philadelphia Conshohocken Hotel to the company formerly known as Hersha Hospitality Management for $26.5 million.

HHM, the new designation of the Hersha Company, announced on Tuesday that the acquisition of the 137-room Marriott hotel was made to take advantage of Conshohocken’s growing business community.

The sale of the hotel, which is located in the Tower Bridge development, was announced by Radnor based Brandywine Realty Trust earlier the same day. Brandywine said that its 50% stake in the property will secure a profit of $6.1 million after the repayment of debt and other costs.

This is not the only sale by Brandywine since the New Year, as it has also sold its Encino Trace offices in Austin, Texas, in a deal that valued the two-building development at $91.3 million, with a net profit of $35.9 million for the Trust.

Lamb McErlane Names Helen Han Mountain as Partner

West Chester based Lamb McErlane, the full service regional law firm, has announced that Helen Han Mountain has been named Partner.

Helen, who becomes the firm’s sixth female partner, focuses her practice on representing companies in corporate and business law counseling and corporate and financing transactions. In addition, she is experienced in work with real estate and development matters, and a wide range of municipal finance matters. Most recently, she represented Uptown! during its purchase of the West Chester Armory.

Helen is also a member of several business and community organizations including the Villanova Law Alumni Association Board of Advisors and is a Committee Member for the March of Dimes Chester County Salute to Women of Achievement.

“Helen is an exceptional attorney who further strengthens our business, real estate and municipal finance practices.” said Lamb McErlane’s Managing, Partner, Joel L. Frank. “We happily welcome Helen to the partnership.”  

Maisano Announces His Candidacy for Pennsylvania’s 9th Senatorial District

Former magisterial district judge and Democrat, Dan Maisano, has announced his candidacy for the senate seat which represents both Chester and Delaware counties.

The Pennsylvania’s 9th Senatorial District seat was recently vacated by longtime Republican State Senator, Dominic Pileggi, who resigned after being elected to serve as a judge on the Court of Common Pleas of Delaware County.

Maisano, who has been a district justice for over two decades, said that his experiences as both a judge and a lawyer would make him an ideal lawmaker.

“I am frustrated with what is happening in Harrisburg,” said Maisano. “Clearly there is a gridlock. Judges are impartial and non-political, and we spend a lot of time listening, ferreting out the facts. I think the problem with legislators today is they don’t listen to their constituents and are not impartial.”