Philadelphia
AIMCO Extends Philly Footprint With $445M Portfolio Buy
The company acquired six communities in the metro with a total of 1,116 units from Dranoff Properties. The deal is expected to close in the second quarter of this year, except for the purchase of one property that is expected to close in the first half of 2019.
On the Market: 4 Interesting Listings for the Week of 3/26
This week’s listings include a 100 percent-occupied luxury community in downtown Baltimore, student housing near Philadelphia’s universities and a recently renovated value-add opportunity in Columbus, Ohio.
Rittenhouse Realty Sells 120 Units in DE
Constructed in 1975, the Wilmington community includes 118 units, a swimming pool and 240 parking spaces.
Gebroe-Hammer Arranges $26M Sale in Bethlehem, PA
The townhome community comprises two-, three- and four-bedroom units and is located near the city’s historic center, as well as several large employers.
Tryko Partners Buys Philly-Area Skilled Nursing Facility
The 129-bed facility, located next to the Fitzgerald Hospital in Yeadon, Pa., provides post-hospital care, short-term rehab and long-term residential care.
RRA Sells 6 in Temple University Area
Temple University contributed to the area’s recent revitalization and proved to be a good driver for the surrounding real estate market.
Rittenhouse Realty Closes $6M Sale in Philly
The four-story building comprises 15 units and a commercial ground floor component, a space currently leased to Sherwin Williams.
LeCesse to Build 248-Unit Community in King of Prussia, PA
Skye 750 will be located within King of Prussia’s growing business park, a live-work-play environment comprising approximately 3.5 million square feet of office space.
Hunt Mortgage Arranges $5M for Philadelphia Asset
The firm arranged for a seven-year fixed rate loan on behalf of MM Equity Partners Philly for the acquisition of the 30-unit Reach Lofts.
Southern Land Updates $300M Philly Plan
Slated to be the city’s tallest residential only building, The Laurel will feature 54 condos, and long- and short-term units with separate lobbies and entrances.