The Lennox apartments, a 156-unit complex in the
Germantown neighborhood of Philadelphia, has sold for $12.7 million.
Premier Properties of Lakewood, N.J., sold the
three-building property at 232-242 W. Walnut Lane to an undisclosed New
York-based group free and clear of debt. It was 95 percent leased at the time
of sale. Premier bought the Lennox in 2014 for $8.75 million.
Carl Fiebig and Mark Thomson of Holliday Fenoglio Fowler
arranged the sale and James Conley, also of HFF, arranged $9.525 million in
financing for the acquisition.
The complex was originally built in 1928 and partially
renovated last year.
Source: Philadelphia
Business Journal
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