Developer buys 2040 Market St.

Developer buys 2040 Market St.: "PMC Property Group has put under agreement the former AAA Mid-Atlantic headquarters at 2040 Market St. in Center City and is drawing up plans for a residential complex at the property.
PMC is buying the five-story, 150,000-square-foot building from NorthStar Realty Finance Corp., which foreclosed on it last year, for an undisclosed sum, although it is expected to close at a little above $8 million, according to market sources.
PMC, which is headed up by Ron Caplan, a developer who has established a sizable presence in the Center City apartment market, will finalize the deal next...

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