BEHRINGER HARVARD ACQUIRES FIRST MORTGAGE FOR 1650 ARCH STREET

PHILADELPHIA — Behringer Harvard has acquired the first mortgage secured by 1650 Arch Street, a 27-story, 553,349-square-foot office tower located in Philadelphia's Center City submarket. The company plans to make significant capital improvements to the property in the near-term and lease its vacant space. Drew McGowan, Tom Weitzel and Ron Cariola of Jones Lang LaSalle's Philadelphia office will handle leasing for the property.