Halfpenny Management Picks Up Lehigh Valley Community
Birchwood Commons, a 96-unit residential property in Bethlehem, Pa., was completed last year. A Berkadia team orchestrated the sale and arranged the acquisition financing.
Birchwood Commons. Image courtesy of Ashley Development Corp.
Ashley Development Corp. has disposed of Birchwood Commons, a recently completed community in Bethlehem, Pa. Halfpenny Management Co. acquired the 96-unit property with the aid of a fixed-rate loan provided by Investors Bank.
Completed in 2018, the six-building property features one- and two-bedroom units ranging in size between 751 and 1,212 square feet. Amenities include granite countertops, full-size washers and dryers, designer cabinets, laminate hardwood flooring and key fob-controlled building access. Community amenities include a landscaped courtyard, a fitness center and private parking garages.
Birchwood Commons is located in Lehigh Valley, on seven acres at 1000-6000 Birchwood Circle. Interstate 78 and Route 33 are within walking distance, along with other major thoroughfares such as Freemansburg Avenue.
A Berkadia team comprising Senior Managing Directors Matt Stefanski and Zac Pierce and Associate Directors Alan Krawitz and Christopher Farmer arranged the sale on behalf of the seller and procured the buyer. Senior Director Stephen Comly secured the financing. Earlier this month, the company facilitated the transaction of a Tempe, Ariz., community.
