COMMERCIAL REAL ESTATE
Reiser Land Development has acquired the majority of the 441-acre Greystone Hall property in Chester County from an affiliate of the Jerrehian family for $38 million with plans to develop a $400 million residential subdivision. The land is being sold to Reiser in two installments but does not include the Greystone Hall mansion and immediately surrounding property. Read more at the Philadelphia Business Journal.
Malvern-based PhaseBio Pharmaceuticals Inc. closed its latest round of funding with $34 million in investments. The drug developer focuses on treatments for orphan diseases and plans to use the funds to conduct a proof-of-concept study for its leading drug candidate. Read more at Philly.com.
For a limited time, The Yard is offering coworking memberships to startups for $20.18 per desk per month for the remainder of 2018. To take advantage, new members must sign up by October 1 and sign a one-year commitment. Open coworking at The Yard typically starts at $350 per month. Read more at Philly Mag.
Bock Development Group’s 18-story student housing high rise at 1324 North Broad St. off Temple University’s campus is expected to be open in time for the 2019 school year. The Nest is a $75-million, all-glass structure with 192 housing units that can accommodate over 500 students and ground-floor retail. Read more at Curbed Philadelphia.