Thursday, March 12, 2015

Riverwalk at Millennium Sold for $80.7M

Scully Company and Long Wharf Real Estate Partners LLC acquired the Riverwalk at Millennium multifamily property at 309 Washington St. in Conshohocken, PA from JPMCB Strategic Property Fund and Riverwalk Realty Co., Inc. for $80.65 million, or about $215,000 per unit.

The 342,500-square-foot, 375-unit apartment community was originally built in 2005 with 189 units completed in 2010. Four buildings sit on 7.9 acres in Montgomery County. Amenities include a clubhouse with fireplace, billiards and a pub room, an outdoor pool with sundeck, river views, fitness center, and business center with conference facilities. This property is located a suburb northwest of Philadelphia that borders the Schuylkill River.

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