FPA Multifamily Buys $96M Philadelphia Asset
JLL Capital Markets represented the seller of the 352-unit property.
Valleybrook at Chadds Ford
FPA Multifamily has paid $96.5 million for Valleybrook at Chadds Ford, a 352-unit value-add multifamily community in Chadds Ford, Pa. Public records show the buyer took out a $64.6 million loan from JLL Real Estate Capital to finance the purchase.
JLL Capital Markets represented the seller, a real estate fund advised by Crow Holdings Capital. The fund had acquired the community in 2018 for $74.5 million from Sentinel Real Estate, according to Yardi Matrix data.
With a national portfolio of 43,500 multifamily units, FPA ranks high on MHN’s Top Multifamily Owners of 2022. The firm recently acquired two communities totaling 155 units, in the Ballard neighborhood of Seattle, from Intercontinental Real Estate Corp.
A value-add investment
Completed in 2002, the Class A property encompasses five buildings with one-, two- and three-bedroom units ranging from 590 to 1,425 square feet. Common-area amenities include a swimming pool, a fitness and business center, a clubhouse, a yoga studio and green areas with grilling stations, as well as detached garages for select units. In-unit amenities consist of washers and dryers, private patios or balconies, stainless steel appliances and fireplaces.
Located at 7000 Johnson Farm Lane, Valleybrook at Chadds Ford is just east of Route 202 and its wide array of retail spaces, dining options and entertainment venues such as Glen Eagle Square and Brandywine Town Center.
JLL Senior Managing Directors Mark Thomson and Carl Fiebig, together with Senior Director Francis Coyne and Director Tyler Margraf, represented the seller.
