Philadelphia, PA - Girard Square Partners LLC, a private partnership comprised of PJSC - JOSS Real Estate Partners I, LLC, Young Capital and SSH Real Estate, has entered into an agreement with TCA Girard, LP to purchase the leasehold interest in Girard Square - a complex containing approximately 830,000 square feet of office, retail and parking garage space, spanning an entire city block bounded by Market, Chestnut, 11th and 12th Streets. This is the sixth acquisition by the partnership, which together has purchased five office buildings; three in Philadelphia and two in Washington, D.C.

Girard Square is a four building office and retail complex with a parking garage situated on 4.35 acres of land area in the heart of the Central Business District and just two blocks from City Hall. The properties contain 721,279 square feet of office and retail space, and 109,070 square feet of parking. Girard Square is comprised of the 13-story Stephen Girard Building at 21 South 12th Street; the 2-story 1100 Market Street; the 8-story 34 South 11th Street; the 4-story 1101 Chestnut Street; and the 500-car parking garage.

The fee interest is owned by the estate of Stephen Girard, a merchant, banker and philanthropist who was America's richest man when he died in 1831. Investment income from Girard's estate provides most of the funds needed to sustain and operate Girard College in North Philadelphia - a school that educates the area's disadvantaged youth.

Located in the thriving Market East office and retail corridor, Girard Square is across from the expanding Pennsylvania Convention Center; adjacent to the growing Thomas Jefferson University campus; two blocks from City Hall; one block from hotels such as Marriott and Loews; and just blocks from the Independence Mall tourist attractions. The property is easily accessible and includes concourse level access to SEPTA's Market East Regional Rail transportation hub.

SSH Real Estate will lease and manage Girard Square, which is currently 80% occupied by over 60 tenants, as ownership plans to maintain its current office and retail use while upgrading the existing buildings through a capital improvement campaign. "Girard Square fits our strategy of acquiring and operating properties in Philadelphia where we can add value over the long term through our in-house leasing efforts and our management expertise," states Peter Soens, a Partner in SSH Real Estate.

"We think Girard Square is a cornerstone of the Market East corridor, which is Philadelphia's convention, shopping and entertainment core. By making a significant long term investment in this project we expect to improve the overall look and feel of the block while maintaining the vibrancy that currently exists," adds Larry Botel, Managing Partner at JOSS Realty Partners LLC.

PJSC - JOSS Real Estate Partners I, LLC is a real estate investment fund co-sponsored by the Peter J. Solomon Company and JOSS Realty Partners LLC, a private commercial real estate and investment management firm founded by Larry Botel and Steve Klein. The Fund targets properties and development opportunities in the major metropolitan markets of New York, Washington D.C., Philadelphia and Southeast Florida. JOSS, through the Fund and other investments, controls over 2.5 million square feet of office properties.

Young Capital LLC, founded by Michael F. Young, is a Philadelphia based real estate investment firm affiliated with CMI, a property management and development company founded by Mr. Young in 1982. The firm owns and manages over 1,000 apartments in the Philadelphia area along with ownership interests in 2.2 million square feet of office and commercial buildings in Philadelphia and Washington, D.C.

SSH Real Estate is a Philadelphia-based firm offering comprehensive commercial real estate brokerage and management services. The firm's property management division manages over 6 million square feet of commercial property in the Philadelphia region, and SSH Property Group, the company's investment division, currently owns 2.3 million square feet of office buildings in Philadelphia and Washington, D.C. In addition to its depth and expertise in the Philadelphia market, the firm has a national and global reach as an affiliate of TCN Worldwide, a consortium of leading, independent commercial real estate firms throughout the world.