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35 Cricket Terrace

vedic portfolio

Waterfront Square • The Reef Condominiums

Location: 901 N. Front Street, Philadelphia, PA

Size: 230,000 Sq Ft    Project: Financing and Investment

Waterfront Square condominium and spa resort is a development located on 877-923 N. Penn Street, Philadelphia a/k/a Pier 36-39. The property contains 9.6 acres of waterfront property along the Delaware River. Waterfront Square is a master condominium for the property and is composed of five condominium pad units and Waterfront Square Common Elements, all of which have been developed as condominiums projects including the marina which will be developed sometime in the near future.

The Peninsula and the Regatta were built in 2007, the Reef was built in 2009 and the remaining two residential parcels have yet to be completed.

In October 2012, Vedic Holdings, along with the new owners and loan servicer, created a $20MM loan facilitation to provide permanent end-loan financing to prospective buyers. enabling sales prior to the building's Fannie Mae and Freddie Mac approval for conventional financing.

Vedic Holdings is also in the process of negotiating the portfolio acquisition of residential units as a long-term investment opportunity.

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Cricket Terrace

Location: Ardmore, PA

Size: 16,400 Sq Ft    Project: Reposition of Asset

In November 2010, in a joint venture partnership, Vedic Holdings acquired 35 Cricket Terrace in Ardmore, PA. The vacant two-story, 16,400 square foot office building is situated in the heart of the “Main Line” outside of Philadelphia.

Built in the early 1900’s, this building has had many lives. Originally, it was a Trolley repair shop which was followed by a bus depot and a freezer/warehouse facility for Geno’s burgers and chicken chain. Since the 1970’s, the building has been an office building, most recently housing a Research & Marketing Company.

Situated on .50 acre, this property has been approved for a 7 story building, which is based on the MUST (Mixed Use Special Transit) zoning for Lower Merion Township in Montgomery County. Surrounded by massive redevelopment in the area, this asset in prime for office, retail or a 90,000 square foot apartment/condo building.

Vedic Holdings is currently in the process of repositioning this asset into a 50+ unit apartment building with 10,000 square feet of retail space on the first floor.

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380 Starr Road

Location: Avondale, PA

Size: 106,800 Sq Ft   Project: Reposition of Asset

In February 2007, in a joint venture partnership with private equity partners, Vedic Holdings acquired 380 Starr Road, Avondale, PA. The vacant two-story, 108,000 square foot Research & Development Industrial building, situated on twelve acres (formerly known as the Hewlett Packard Campus) is located on the border of Chester County, PA and Hockessan, DE.

Following the acquisition, Vedic Holdings was successful in leasing the entire building to W. L. Gore & Associated Inc. In 2009, for the twelfth consecutive year, W. L. Gore & Associates, Inc., a privately held company, earned a position on FORTUNE Magazine's annual list of the U.S. "100 Best Companies to Work For."

While creating 450 new jobs in Pennsylvania, Vedic Holdings has also undertaken a dramatic repositioning of the asset to make it one of the premier locations in the area. The $20M renovations include retrofitting entrances, lobbies, corridors, restrooms, new elevators, mechanicals and other common areas, resulting in a more contemporary look, both inside and out.

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Villanova University Student Housing Portfolio

Location: Lower Merion, PA

Size: 78,000 Sq Ft   Project: Reposition of Asset

In November 2000, the principal of Vedic Holdings acquired a 31 unit portfolio of Lower Merion township approved residential and multi-unit apartment buildings primarily marketed to Villanova University students in their Junior and Senior year.

The goal was to create value in equity by investing $500K in renovating the portfolio to meet the then-current student housing trends. This enabled these properties to become the most desired housing in which students wanted to live.

In 2006, after stabilization, the asset was sold to a single investor who currently owns and manages the portfolio.