David Robinson retired from the NBA in 2003 but continues to make moves off the court in the real estate business.

Robinson, nicknamed the Admiral, co-founded Admiral Capital Group. Admiral Capital Group is a real estate and private equity investment firm that recently acquired Valley Forge Park Place, a two building office property in King of Prussia.

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Admiral Capital Group did not disclose final sale price or the identity of the seller, however property records show Keystone Property Group as the owner of the buildings since 2006. Both buildings in Valley Forge Park Place were built in 1978 and were renovated by Keystone in 2007 as soon as they bought the buildings.

Newmark Knight Frank was enlisted as the leasing agent for the VFPP complex. Newmark Knight Frank has held the position of leasing agent for years before Keystone Property Group took over in-house leasing for the last few years of ownership. Admiral Capital Group purchased the building using its core-plus investment platform, also called A2R. Admiral financed the deal using a combination of its own equity and a “first mortgage from an institutional bank,” said Admiral co-founder Daniel Bassichis told Bisnow.

Admiral Capital Group’s first acquisition in the Northeast was the Valley Forge Park Place complex, but not its first business in the area. Admiral Capital Group is also a founding investor in Fitler Club. Fitler Club is a private social club due to open in April in Aramarks new headquarters at 2400 Market St. in Center City.

“King of Prussia has become a live-work-play environment with the King of Prussia Town Center [and] all the new multifamily and for-sale housing product in the immediate area,” said Bassichis when Bisnow asked Bassichis why King of Prussia was its first deal in the region. ” This retail and residential amenity base were what initially attracted us to the submarket.”

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