Thursday, December 5, 2013

Vantage Properties Pays $68M for Marquis Apartments

Vantage Properties LLC acquired the Marquis Apartments at 251 W. Dekalb Pike in King of Prussia, PA from Metropolitan Properties of America, Inc. for $68 million, or more than $104,000 per unit. 

The nine-story, 804,184-square-foot multifamily building was constructed in 1970 on 26.7 acres in suburban Philadelphia's Montgomery County. The 651 units are an even mix of studios, one-, two-, and three-bedroom apartments ranging in size from 394 to 1,537 square feet. The asset was fully occupied at the time of sale.

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