Friday, February 12, 2016

Philadelphia Apartment Portfolio Sells for $73.8M

The Carlyle Group and Greystar Real Estate Partners have sold three apartment buildings in Philadelphia to Premier Properties for $73.84 million, or approximately $123 per square foot.

The deal includes the Rushwood Apartments at 10825 E. Keswick Rd., Winchester Walk Welsh at 2600 Welsh Rd., and Winchester Walk Roosevelt at 7801 Roosevelt Blvd.

Rushwood was built in 1966 and totals 339,800 square feet on two floors with 392 units. Welsh was built in 1960 and totals 135,000 square feet on two floors with 166 units. Roosevelt was built in 1954 and totals 123,400 square feet on two floors with 152 units.

Premier Properties is planning a renovation of the unit interiors and amenity packages at all three multifamily communities.

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