A New York real estate investment firm has acquired
Chestnut Hill Tower, a 228-unit apartment building at 7600 Stenton Ave. in
Philadelphia, for $24.5 million, according to property records.
Eagle Rock Advisors, through its UOB Eagle Rock
Multifamily Property Fund, bought the complex from two entities affiliated with
Premier Properties of Lakewood, N.J., which bought the Chestnut Hill Tower in
2012 for $16.75 million. The 18-story high-rise sits on just over five acres
and includes 12 ground-floor retail units.
Source: Philadelphia
Business Journal
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