US: BridgeStreet Global Hospitality has signed a management agreement with Alterra Property Group for The Arch in Philadelphia.
The Arch, which was added to the National Register of Historic Places in 1984, features 111 units in Logan Square. The building will become part of the Living by BridgeStreet brand.
BridgeStreet president and CEO Sean Worker said: “The Arch is a great compliment to the BridgeStreet Family of Brands due to its unique and highly visible location for corporate and leisure travellers. Not only is it a beautiful building like all our Living properties, it is centrally located in the city and has everything a business traveller needs to work and, hopefully, to explore and experience.”
Derrick LaRosa, director of real estate for BridgeStreet, said: “Philadelphia is an underserved market in the serviced apartment space and represented a great opportunity for BridgeStreet to open a flagship asset. The Arch combines the best of traditional real estate and serviced apartments with its history, location, and Class A finishes, offering a unique experience for travellers to the city of brotherly love.”
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