PHILADELPHIA, PA. — Marcus & Millichap has negotiated the sale of a five-building, 31-unit, multifamily portfolio in Philadelphia. The asset sold for $5.6 million or $182,258 per unit. Dana Newton and Mike Maxwell of Marcus & Millichap represented both the undisclosed seller and the buyer, a New York-based firm, in the transaction. The portfolio consists of 2105-2107 Green St., 2034 and 2036 Mt. Vernon St., 321 South 12th St., and five scattered condominiums.
BREINIGSVILLE, PA. — Cronheim Hotel Capital has arranged a $12.5 million acquisition loan for a Holiday Inn in Breinigsville. The property is located approximately seven miles east of Kutztown. Built in 1988, the 175-room hotel includes 14,000 square feet of meeting space as well as a 10,660-square-foot ballroom. Cronheim secured the non-recourse, floating-rate loan with a three-year term on behalf of borrower Infinity Asset Management. The lender was undisclosed. The property will be converted into a Delta by Marriot hotel.
LEMOYNE, PA. — Marcus & Millichap has brokered the sale of 840 Market Street Shopping Center, a 32,379-square-foot retail center in Lemoyne. The property sold for $2.8 million, which equates to an 8.9 percent capitalization rate. Craig Dunkle of Marcus & Millichap represented the seller, a private investor based in Mechanicsburg, in the transaction. RSR Realtors represented the buyer, a regional investor. The tenant roster at the shopping center includes Dollar General, Little Caesars, Akita’s Sushi Restaurant, 717 Cross Fit, Burn 30, and Rem Staffing.
MACUNGIE, PA. — Markward Group has orchestrated the sale of a 44,227-square-foot flex building in Macungie. Located at 111 Lehigh St., the 2.6-acre property is approximately 11 miles south of Allentown. Markward Group represented both the seller, Narsu and Ramani Tatikoia, and the buyer, Luicana Unique Design, in the transaction. Luicana Unique Design is a Kitchen and Bathroom remodeling company and will occupy a portion of the building.
PHILADELPHIA — Marcus & Millichap has arranged the sale of AQ Overbrook Flats, a 128-unit apartment community in the Overbrook Farms neighborhood of Philadelphia. The property sold for $13 million, or approximately $101,770 per unit. Clarke Talone, Andrew Townsend and Ridge MacLaren of Marcus & Millishap represented the seller, a limited liability company, in the transaction. The buyer is an affiliate of Aquinas Realty Partners. The property is located at 6358 Lancaster Ave. and 6312 Sherwood Road.
PHILADELPHIA — CBRE has negotiated the $10 million sale of Liberty Plaza, a 372,130-square-foot shopping center located at 4501 Woodhaven Road in Philadelphia. The shopping center, which was constructed in 1989, sits on 33 acres. Peter Stevens and Kevin McClernon of CBRE represented the seller, U.S. Bank National Association, in the transaction. The buyer was 4501 Woodhaven Holding LLC. The property is currently 45 percent occupied with a tenant roster that includes Dick’s Sporting Goods, Raymour & Flanigan, Burger King, Grand China Buffet and Liberty Nail Salon.
BERWYN, PA. — Maguire Hayden Real Estate Co. has acquired the Cassford Corporate Center, a five-building, 131,509-square-foot office campus in Berwyn for $9.2 million. The property was vacant at the time of sale but previously occupied by tax technology company Vertex Inc. CBRE represented the seller, a Delaware-based LLC, in the transaction.
PHILADELPHIA — Real Estate investment firm Dalzell Capital Partners has acquired a four-property multifamily portfolio in Center City, Philadelphia for $18.7 million. The 65-unit portfolio consists of all newly built or renovated communities. The properties are The Bradford, a 26-unit property located at 507 S. 8th St.; Queen Village Lofts, a 16-unit former school conversion located at 427 Monroe St.; 1311 Spruce, a 16-unit property located at 1311 Spruce St.; and 1310 Spruce, a seven-unit property located directly across the street from 1311 Spruce at 1310 Spruce St. Alterra Property Group sold the portfolio to Dalzell Capital Partners.
HARRISBURG, PA. — Hotel owner-operator MCR has acquired the 107-room TownePlace Suites Harrisburg Hersey in Harrisburg. The price was undisclosed. The property is 10 miles from the 121-acre Hersheypark theme park in Hershey. Located at 450 Friendship Road, the hotel features free daily buffet-style breakfast, 24-hour fitness center, on-site laundry service and an indoor pool as well as a whirlpool.
BOOTHWYN, PA. — CBRE has negotiated the $8.9 million sale of a two-property flex portfolio in Boothwyn. The portfolio consists of a two-story office building and a single-story industrial facility totaling 50,028 square feet, as well as an adjacent 3.2-acre land parcel. Steve Marzullo and Adam Silverman of CBRE represented the seller, affiliates of RedGo Development. The buyer was an affiliate of SSH Real Estate. Both properties are fully occupied by Pentec Health Inc. The two-story office building was built in 2008 and contains 17,668 square feet of office space. The single-story industrial facility was built in 2006 and contains 32,360 square feet of office, pharmacy, lab and warehouse space.