Entities connected to Joe Thomson, Pacer Financial President and Founder, have acquired three office buildings near the company’s Malvern headquarters for $12.5 million, writes Ryan Mulligan for the Philadelphia Business Journal.
The three buildings, which total more than 226,000 square feet across 33 acres, were sold by Radnor-based EQT Real Estate.
The properties at 100, 600, and 700 Chesterfield Parkway were originally purchased by EQT for $36.1 million in 2019, representing a 65 percent discount in the most recent sale.
The buyer is made up of three limited liability corporations that are managed by Thomson. Pacer Financial is located in a building at 500 Chesterfield Parkway, also owned by Thomson.
The building at 100 Chesterfield Parkway sold for $4.5 million, while the other two properties sold for $4 million each.
All three office buildings are available for lease. In 2019, Vanguard occupied the three properties, but it is currently unknown if the investment behemoth still has a presence in the buildings.
Thomson founded Pacer Financial in 2004. During the financial crisis, the company launched a series of exchange-traded funds, raising hundreds of millions in assets.
Read more about Pacer Financial acquiring these three office buildings in Malvern in the Philadelphia Business Journal.
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