COMMERCIAL REAL ESTATE
Pearl Properties has doubled the size of its hotel portfolio in Center City. The Philadelphia-based company has acquired the Embassy Suites at 1776 Benjamin Franklin Parkway, it announced on Monday. The hotel was sold by Pebblebrook Hotel Trust as part of its acquisition of LaSalle Hotel Properties, which was finalized Nov. 30. … Read more at BisNow.
Tabula Rasa Acquires Australian Pharma Company for $20 Million
South Jersey medical technology company Tabula Rasa HealthCare entered into a definitive agreement to acquire DoseMe in a deal valued at up to $20 million. Based in Brisbane, Australia, DoseMe is the developer of an advanced precision-dosing tool — called DoseMeRx — that helps physicians and pharmacists accurately dose patients’ high-risk parenteral medications based on individual needs. … Read more at the Philadelphia Business Journal.
Philly Housing Organization Gets $1 Million Grant from Communities Thrive Challenge
Center City-based nonprofit Benefits Data Trust beat out 1,800 other applicants around the country and became one of just 10 grantees of the Communities Thrive Challenge, a joint grant program created by the Chan Zuckerberg Initiative and the Rockefeller Foundation. The organization, which helps low-income people access to public benefits and services, will use its $1 million grant over the coming 24 months to bring scalability to its technology and find new ways to reach and serve its target population. … Read more at Technical.ly Philly.
NJ Moves A Step Closer to Banning Cashless Stores
New Jersey lawmakers on Monday advanced a bill that would ban cashless stores in the Garden State. The measure, which can now go before the full state Senate, would require all brick-and-mortar retailers to accept cash, excluding transactions made online, by telephone, or by mail. … Read more at Philly.com.