DEAL OF THE DAY: Kislak Completes Sale of Three Apartment Properties for $20.3M
- May 15, 2008
By Anuradha Kher, Online News EditorCamden, N.J./Hatboro, Pa.–The Kislak Co. Inc. has arranged the sale of three apartment complexes totaling over $20.3 million in New Jersey and Pennsylvania.The sales transactions included the $11.891 million sale of Crescent Gardens, a 240-unit apartment property located at 1622 Independence Rd., and Gramercy Park Apartments, a 104-unit rental community located at 2880 Hull Rd. in Camden, N.J. Kushner Properties owned both the properties. At the time of the sale, the properties were 95 percent occupied.The second transaction included the $8.5 million sale of The Garner House, a 102-unit mixed-use complex, located at 50 South Penn St. in Hatboro, Pa. The Garner House is comprised of 96 residential units and six retail units. The 20,000 sq. ft. in retail units are occupied by a variety of professional services tenants.