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Prager and friends buying up PA offices

Lingwood Partners Inc., a Lakewood, N.J. firm that includes investor Yakov Prager and a group of his business partners, has purchased 2621 Van Buren Ave., Valley Forge Corporate Center, for $24 million from BPG Properties Ltd. CBRE's Hines says the group has bought over $200 million in eastern Pennsylvania offices so far this year.

    by Joseph N. DiStefano
    Published 

Lingwood Partners Inc., a Lakewood, N.J. firm that includes investor Yakov Prager and a group of his business partners, has purchased 2621 Van Buren Ave., Valley Forge Corporate Center, for $24 million from BPG Properties Ltd., the Yardley-based commercial real estate company headed by Daniel DiLella and Arthur Pasquarella, said CB Richard Ellis Group Inc. Executive Vice President Michael Hines, who represented BPG.

Prager’s group has purchased over $200 million in office real estate, including properties owned by Liberty Property Trust and Brandywine Realty Trust, in Bucks, Berks, Dauphin, Lehigh, and other eastern Pennsylvania counties since early 2007, Hines said.

Tenants at 2621 include Comcast, PayChex, Texas Instruments and PJM Interconnection.