Thursday, July 22, 2010

College Arms Apartments Sells for $4.4 Million

"The Walters Group sold the College Arms apartment complex in West Chester, PA, to West Chester University of Pennsylvania for $4.39 million, or about $107,000 per unit.

The 41-unit, 31,618-square-foot property at 721-731 S High St. was built in 1973. The property holds a historical vacancy rate of 5%.

West Chester University purchased the property as an investment and for the continuation of student housing.

The property was not on the market at the time of sale."

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