Recent News

  • February 12, 2016
    - Switzenbaum & Associates Funds $15.5M Loan for Mixed-Use Development in State College

    By AMY WORKS 2016-02-12

    STATE COLLEGE, PA. — RSR EB-5 Regional Centers (RSR), an affiliate of Switzenbaum & Associates, has funded a $15.5 million loan for the financing of a ground-up construction mixed-use property in State College, through the U.S. Citizenship and Immigration Services (USCIS) EB-5 immigrant investor program. The interest-only loan is in conjunction with a $26.5 senior construction loan from Fulton Bank, which provided the remainder of the required debt for the project. Originally structured for 30 investors, the project opened an additional spot to due increased demand. While USCIS requirements for EB-5 stipulate that a minimum of 10 new jobs must be created for every investor, this project’s construction and operation will create an estimated 521 jobs. The borrower, Fraser Partners, an affiliate of Real Estate Capital Management and Brickbox Enterprises, will use the funds to construct The Fraser Centre, a 265,000-square-foot mixed-use project on the crest of Pennsylvania State University’s main campus. Slated for completion this fall, the development will feature 50,000 square feet of retail space, a 165-room Hyatt Place Hotel and 26 residential condominiums.

  • May 22, 2012
    - People in the News

    By PHILLY.COM 2012-05-22

    Stephen E. Markert Jr. has been hired by Philadelphia-based Switzenbaum & Associates as chief operating officer and chief financial officer, and as a partner of the real estate development and management firm. He most recently was CEO of Vitacost.com in Boca Raton, Fla., and served 11 years as chief financial officer of C & D Technologies in Blue Bell.

    SteegeThomson Communications, a Philadelphia agency specializing in marketing and development communications for nonprofit organizations, hired Denise H. Portner as a senior vice president. She had been senior vice president in public relations at Tierney.

    The law firm of Caroselli, Beachler, McTiernan & Conboy, named Thomas More Marrone as a partner in its Philadelphia office. Marrone was previously at Feldman Shepherd, where he was the head of the firm’s complex litigation and class action department.

    CMF Associates L.L.C., a Philadelphia provider of services to private equity, middle-market, and smaller public companies, named Robert Rostron a director in the firm’s financial and operational consulting group. He had been an M&A director at Deloitte & Touche L.L.P. within the firm’s partner group in New York City.

    Andrew Lovell was appointed associate director of industry relations for Temple University’s School of Tourism and Hospitality Management. He had been sales director at the Adventure Aquarium and Currents Ballroom.

    Alex’s Lemonade Stand Foundation, a Philadelphia nonprofit dedicated to finding cures for children with cancer, hired Michael A. Golden as director of finance and administration. Golden had been chief financial officer and director of consulting at Solutions for Progress in Philadelphia.

    Tony Bevacqua joined the local office of KPMG L.L.P., the U.S. audit, tax, and advisory firm, as a principal in the firm’s financial management consulting group.

    Doylestown law firm Curtin & Heefner L.L.P. named trial attorney Carolyn M. Angelaccio a partner of the firm. Angelaccio focuses her practice on civil litigation with an emphasis on insurance matters, private disability claims and Social Security claims.

    Rene J. Alvarez Jr. joined Temple University Hospital as vice chief of cardiology and medical director of the Heart Failure/Cardiac Transplantation Program, professor of medicine and assistant dean for minority faculty at Temple University School of Medicine. She had been director of the Heart Failure Outreach Network at the University of Pittsburgh Medical Center.

    The Training Resource Group Inc., a Philadelphia provider of sales training, hired Juan Dominguez as vice president. He is a former councilman for Bogota, N.J., and commissioner on the Bergen County Utilities Authority. He also was an officer in the Army. He had been a district manager in Philadelphia for SimplexGrinnell, a Tyco subsidiary.

    Comcast Cable, Philadelphia, promoted Melanie Penna to senior vice president of human resources service delivery from vice president of human resources.

    New Day Underwriting Managers L.L.C., of Bordentown, promoted Jeff Slivka to chief operating officer. He will continue in the role of executive vice president at the specialty environmental and construction-related professional liability coverage firm.

  • May 17, 2012
    - Switzenbaum & Associates Names Stephen E. Markert, Jr. As COO & CFO

  • October 27, 2011
    - Center City garage installs vehicle charging stations

    By PHILLY.COM 2011-10-27

    Parametric Associates L.L.C. said it completed installation of eight electric car charging stations in its Convention Center Garage at 11th and Arch Streets in Center City.

    The installation is a first for a public garage in Philadelphia, the company said. Each stations can service two cars at a time. The 706-car garage also serves the Hilton Garden Inn Hotel.

    Parametric Associates said in a statement that it expects to expand the service for plug-in autos as more consumers acquire electric vehicles. Access to charging stations helps relieve so-called range anxiety of consumers considering electric vehicle purchases.

    Mayor Nutter called the installation "an example of how diverse stakeholders can play a role in helping to make Philadelphia a leading green city." - Reid Kanaley

  • October 18, 2011
    - Electric Car Chargers Ready for Action at Convention Center Garage in Philadelphia

    By BUZZCOMMUNICATIONS 2011-10-18

    Philadelphia, October 18…..Parametric Associates LLC, has announced it has just completed installation of eight electric car 2-plug charging stations – able to service up to 16 cars at a time - in its parking garage at The Convention Center Garage at 11th and Arch Streets which also services guests of the Hilton Garden Inn Hotel.

    This is the first public garage in the Philadelphia region to offer this service to drivers says Josephine Wang, executive vice president of Switzenbaum & Associates, which is an affiliate of Parametric Associates.

    “We are still in the infancy stages of this industry,” she said. “We feel that as more drivers become aware of need to reduce America’s dependency on foreign oil – they will want to purchase electric cars which will need charging stations in central location that are easily accessible.” The 706-car parking facility is near the Reading Terminal Market, the Pennsylvania Convention Center, The Gallery Shopping Mall and the Market Street Commercial District east of Philadelphia’s City Hall.

    "This is a great example of how businesses are helping to keep Philadelphia on the cutting edge of green technologies," said Mayor Michael A. Nutter. "The City of Philadelphia is proud of its innovative private sector that is willing to support early adopters of alternative fuel vehicles. The commitment of the Convention Center Parking Garage is an example of how diverse stakeholders can play a role in helping to make Philadelphia a leading green city."

    “We put the cart before the horse to offer a convenient, secure 24/7 access,” to drivers of energy efficient cars for their car charging needs. ” said Wang. Parametric Associates expects to expand these capabilities in the next year as more consumers acquire electric cars.

    The quick-charging stations installed at the Convention Center Garage are convenient to use and allow drivers to “fuel-up” while their autos are not in use. “We expect to install additional quick car charging stations as the market demands.”

    A battery-only electric vehicle or all-electric vehicle derives all its power from its battery packs and has no internal combustion engine, fuel cell, or fuel tank. In 2011 several auto manufacturers introduced battery-operated cars in the United States and claim that there is an increase in pre-orders as consumers hit sticker shock at gas stations. Plug–in auto manufacturers brag that most EVs can travel between 50-150 miles before a need to be recharged making them a perfect alternative for urban commuters that prefer the convenience of cars to public transportation.

    Parametric selected Coulomb Technologies because it is the leading electric vehicle charging (EV) solutions company says Wang. Powering smart cars, or EVs, needs to be convenient, quick and easy, not a lengthy process. Access to charging stations, as in the Parametric Garage, helps to relieve “range anxiety” of consumers.

    Coulomb recently introduced its ChargePoint Network, the largest global online network connecting electric vehicle drivers to unoccupied charging stations in over 14 countries. ChargePoint offers EV owners flexible payment options, 24/7 driver support and mobile phone applications, which include station locations, turn-by-turn navigation and availability.

    Philadelphia-based Switzenbaum & Associates is the developer of Hilton Garden Inn at 1100 Arch Street and the Parametric Associates garage. It is a fully integrated real estate investment, development and management company with an emphasis today in developing and investing in multi-family apartments.