Admiral Capital Group has expanded its core-plus US office portfolio with the acquisition of a 160,043sqft asset.

The real estate and private equity investment firm’s core-plus investment platform A2R has bought Valley Forge Park Place (VFPP) in the Philadelphia metro area for an undisclosed sum.

The two-building office complex was constructed in 1978, underwent a significant renovation in 2007 and is 96% leased.

The acquisition adds to Admiral’s core-plus office portfolio which already includes assets in Phoenix, San Diego, Frisco and Plano.

Admiral’s A2R was formed in early 2018 with the mandate of acquiring and managing core-plus properties that provide stable cash yields in growth markets across the US.