Thursday, March 17, 2011

Apex at Kutztown Sells for $30M

"Apex At Kutztown LP sold the 184-unit student housing facility near Kutztown University to BET Investments, Inc. for $29.95 million, or roughly $162,772 per unit.

Apex at Kutztown, located at 2200 Lifestyle Ln. in Kutztown, PA, was constructed in 2008 on 22.6 acres in Berks County. The dormitory features 184 units with 552 beds. Average room size is 944 square feet. The site was 100 percent occupied, and closed with a capitalization rate of 7.2%."

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.