Thursday, April 3, 2014

Coachman Manor Apts Sell for $15.9M

T Real Estate Capital purchased the Coachman Manor Apartments at 401 E. Gibbsboro Rd. in Lindenwold, NJ from Goldstone Management for $15.9 million, or about $29,000 per unit. 

Built in 1969, the 690,000-square-foot, garden-style multifamily complex sits on 28.4 acres. The property contains 400 one-bedroom, 135 two-bedroom, and 11 three-bedroom units. At the time of sale, the property was 79 percent occupied.

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