Vincent Circle

Shem Creek financed the acquisition of Vincent Circle with a three-year bridge loan. The loan proceeds facilitated the purchase and renovation of the nine-unit, 57,007 sq. ft., small-bay industrial property in the established submarket of Bucks County, Pennsylvania.

This Class B industrial building had a history of high occupancy and was one of the few in-market options that could accommodate smaller users. Most new supply in this submarket had been Class A warehouse/distribution space designed for larger tenants, substantially tightening the market for lower-priced Class B/C space.

Due to passive management by prior long-term owners, in-place leases and expense reimbursement structures lagged that of the overall market. The sponsor instilled proactive management practices and carried out targeted renovations to enhance the asset’s functionality, adding significant value by enabling lease structures more in line with market trends.