Friedman Realty Group of Gibbsboro, N.J., has acquired
the 92-unit Breckenridge Plaza apartment complex in Phoenixville, with plans to
spend $3 million on renovations at the property.
The real estate investment firm paid $8.7 million in
March for the five-building complex on three acres at the corner of Nutt Road
and Bridge Street, it said in an email.
Apartment interiors at the Chester County complex, which
had fallen into disrepair, will receive new hardwood flooring and carpets, new
kitchens with stainless-steel appliances, and other upgrades, Friedman said.
Exterior improvements include new building entryways and common-area designs,
it added.
The complex was 42 percent vacant when it was acquired,
according to the release.
Source: Philly.com
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