Lindy Communities has acquired Towers at Wyncote for more
than $106 million.
This marks the largest transaction for the Philadelphia
apartment landlord and grows its portfolio by 20 percent. The company now owns
34 communities, mostly in the Philadelphia area, with a total of 6,200 units.
“This is a very big deal for us,” said Alan Lindy, who is
the grandson to the company’s founder.
The property is located at 8480 Limekiln Pike in the Wyncote
section of Cheltenham. CBRE Inc. arranged the transaction. The complex consists
of three apartment towers that have nearly 1,100 units. It was 93 percent
occupied at the time of sale.
Source: Philadelphia
Business Journal
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