“The city of Pittsburgh has gone through a major renaissance and become a very attractive market for real estate investors worldwide,” says Alexander Joerg, director at ING Real Estate Finance (USA), in a statement.
Monday, December 12, 2011
Pittsburgh Commercial Real Estate Boom
You want a piece of Pittsburgh's revitalization? Invest in the Golden Triangle:
ING secured a $43 million loan for Westinghouse Tower "capital expenditures". I got the story backwards. ING is the lender. Munich-based GLL Real Estate Partners owns the building and secured the loan. According to the above article, the money comes on the heels of $25 million spent improvements to the building. That's a lot of money for a dying downtown bleeding population.