Fulton Realty Capital advised a private client on the acquisition of a multifamily apartment community located in the Philadelphia, Pennsylvania suburbs. Sourcing, negotiations, and 5-year fixed-rate CMBS financing were all arranged by Fulton's team.
The property offers 60 garden-style apartment homes, consisting of studio, one-, and two-bedroom floor plans, totaling nearly 45,00 rentable square feet. It's central location offers a variety of commuting options, including access to various interstates and SEPTA commuter rail service.
Multiple capital improvements were completed prior to sale, including HVAC, roof, exterior, plumbing, landscaping, mechanical upgrades, and unit interior renovations. With these enhancements in place, the new owner will focus their efforts on maximizing rental revenue. A professional, third-party management company has been hired to execute this strategy and oversee operations.
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