GREA, a commercial real estate sales brokerage based in Philadelphia, is pleased to announce the sale of 66 apartments in the Germantown section of Philadelphia. The property consists of 33 duplexes, each with two 1-bedroom apartments with garage parking for each unit. Tenants enjoy great access to vibrant retail districts and outdoor activities as well as close proximity to a SEPTA Regional Rail to Center City, Philadelphia. The property was marketed as a value-add opportunity in a growing market.
Ken Wellar, founding partner at GREA, stated: “We are seeing more out-of-state buyers paying aggressive cap rates based on pro-forma assumptions. Arborwood has great rent growth potential given the seller owned the properties for over 30 years.”
For more information on current rates or to view our available listings visit www.GREA.com
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GREA has been a leader in multifamily commercial real estate in Philadelphia and the surrounding markets since 2013. With our extensive local market knowledge, we pride ourselves in helping our clients from acquisition to disposition and through every major capital event.