Hidden Forrest, an apartment complex in Fairless Hills, Pa.,
has traded for $21.3 million, or $89,496 per unit.
The property at 602 Forest Court has 238 units and was 98
percent occupied at the time of the sale. It was constructed in 1967 and
renovated more than 10 years ago.
The property was sold by TGM Associates, a New York firm
that focuses on multifamily properties. The buyer was Castellan Real Estate
Partners, a New York firm that buys multifamily and retail real estate.
The sale was arranged by Robert Miller and John McFadden of
CBRE Inc
Source: Philadelphia
Business Journal
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