PHILADELPHIA, Pa. – MARCH 11, 2020 – Regions Bank announced the company’s Atlanta-based Real Estate Banking team recently financed the $44 million acquisition of the four-building Bay Colony office complex with Bridge Investment Group.
Bay Colony is a campus of four 2- and 3-story Class B offices totaling 250,152 square feet. The property is in the King of Prussia submarket within the Philadelphia MSA. King of Prussia is one of Philadelphia’s most desirable suburban office submarkets. It has exceptional highway accessibility; a mature, growing amenity base that includes a variety of shopping, fine and fast-casual dining, and entertainment options; and a highly educated workforce.
The Bay Colony acquisition is part of Bridge’s Commercial Office II investment platform. Bridge’s strategy is to fill a void for high-quality, well-located office space in target markets through hands-on renovation and repositioning of under-invested assets.
Bridge Investment Group is a leading, forward-integrated real estate private equity firm with $20.1 billion in assets under management whose principals have a 30-year history as a real estate owner-operator. Bridge combines its nationwide, 3,600-person “boots-on-the-ground” operating platform with specialized teams of investment professionals focused on select U.S. real estate verticals, including Multifamily, Workforce and Affordable Housing, Senior Housing and Medical Properties, Office, Debt Strategies, and Opportunity Zones.
Regions Real Estate Banking is a team of four business groups – Real Estate Corporate Banking, Income Property Finance, Homebuilder Finance and Regions Affordable Housing – strategically assembled to meet the needs of professional real estate companies, developers and investors.
Regions delivers competitive products with superior service marked by speed, certainty and creativity, leveraging the bank’s full capabilities to offer a wide range of integrated banking solutions to help real estate businesses succeed and grow.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $126 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.