A joint venture of American Real Estate Partners and an unnamed institutional investor acquired the 16-story Eight Tower Bridge office building in Conshohocken, Pa., for about $98 million, the Philadelphia Business Journal reported, citing unnamed sources.

The 347,000-square-foot building at 161 Washington St. was 86% leased at the time of the transaction and was sold by a partnership involving affiliates of Cornerstone Real Estate Advisers and Oliver Tyrone Pulver, the report added.