Wednesday, February 5, 2014

Paradise Property Pays $22.8M for Lafayette Hill Multifamily

Paradise Property LLC acquired The Glen at Lafayette Hill multifamily community at 555 Andorra Glen Ct. in Lafayette Hill, PA from AEW Capital Management for $22.77 million, or about $163,813 per unit. 

The three-story, 208,527-square-foot apartment building was constructed in 1999 on 18.1 acres in the Conshohoken / Plymouth Meeting submarket of Montgomery County. The 139 units are a mix of one-, two- and three-bedroom apartments were 91 percent occupied at the time of sale. 

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