KISLAK COMPLETES $12.8 MILLION MULTIFAMILY SALE

CLAYMONT, DEL. — Woodbridge, N.J.-based The Kislak Company has completed the sale of East Pointe Apartments, a 206-unit multifamily community located at 2610 Philadelphia Turnpike in Claymont, for $12.8 million. East Pointe Apartments contains one-, two- and three-bedroom units, as well as a 10,000-square-foot retail building with five suites and two garages. All units have been recently upgraded with new windows and carpeting, and some units have received new kitchens and bathrooms. Occupancy was 94 percent at the time of closing. Kislak’s Robert Holland represented the seller, a joint venture between White Plains, N.Y.-based Houlihan-Parnes Realtors and Great Neck, N.Y.-based CLK Properties. Kislak also represented the buyer, East Pointe Associates LLC, a subsidiary of Geller Associates.