Friday, January 18, 2013

Glen Brook Apts Trade for $13.5M

A private investor has acquired the 174-unit Glen Brook Apartments at 201 S. Macdade Blvd. in Glenolden, PA from an unidentified REIT for $13.5 million, or about $78,000 per unit. 

The 14 three-story multifamily buildings total 141,600 square feet and were built in 1962 on 4.1 acres in the Delaware County submarket of Philadelphia. It features 88 one-bedroom, 84 two-bedroom and 2 three-bedroom units with average asking rents between $850 and $1,600 per month.

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