Thursday, November 11, 2021

Treeco Pays $28 Million for Philadelphia Multifamily Portfolio

 By Carlos Likins CoStar News

Treeco has purchased a portfolio of six apartment complexes in Philadelphia's Fairmount and Brewerytown neighborhoods for $28 million.

The Englewood, New Jersey-based investment, development and management firm acquired the residential properties from Philadelphia-based Stamm Development Group.

The 78-unit portfolio includes The Fairmount Flats at 745-751 N. 20th St., 726 N. 19th St., 711 N. 16th St., 714 N 19th St., The Fairmount Greenery at 817 N. 20th St. and The Porter at 2940 W. Thompson St.

"One of Philadelphia’s leading private real estate development firms, SDG builds impeccable residential properties that warrant a very high price per unit. As a result, we were able to market the portfolio in its entirety and arrange the sale to a single buyer. We are extremely pleased with the result that met the high expectations of our client."

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.