Marcus & Millichap Sells 387 Lancaster County, PA Multifamily Units for $28.2 Million



Windsor Court Townhomes



LANCASTER, PA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a portfolio of three multifamily properties totaling 387 units in Lancaster, Pa.

All three assets required assumptions of existing agency lender financing. The portfolio’s sales price is $28.2 million.

Cherryhill Villas

Two multifamily brokerage teams in Marcus & Millichap’s Philadelphia office forged a collaborative marketing effort on behalf of the seller, a Pennsylvania limited liability company.

The listing agents, Mark Thomson and Zachary Pierce, along with Ridge MacLaren, Clarke Talone and Andrew Townsend, also represented the buyer, a regional limited liability company.

Sweetbriar Apartments

“The portfolio includes three recently improved multifamily buildings in the burgeoning Lancaster area,” says Pierce. “These highly desirable assets were in excellent condition, having recently undergone improvements such as new windows, sliding patio doors, renovated pool areas and fitness centers.”

Windsor Court Townhomes, located at 1821 Hidden Lane with 126 units, is situated in a quiet, single-family neighborhood filled with mature trees and large estate homes in the western suburbs of Lancaster City.. The asset sold for $10.9 million or $73 per square foot.

Cherryhill Villas, at 560-02 Estelle Drive with 118 units, is just three miles down the same road, on 12 acres with manicured green space. It sold for $8.5 million or $98 per square foot.

Sweetbriar Apartments, located at 1917 Oregon Pike with 143 units, is on a heavily traveled corridor with convenient access to downtown’s retail and industrial employment opportunities, just a mile from all major highways. The asset sold for $8.8 million or $76 per square foot.

For a complete copy of the company’s news release, please contact:

Contact:

Public Relations
(925) 953-1716

Carter Launches Highpoint on Columbus Commons Website

Conor McNally

ATLANTA, GA – Carter, one of the country’s leading real estate investment, development and advisory firms, is pleased to announce the launch of the Highpoint on Columbus Commons website, www.highpointcolumbus.com.

The new website will provide the following:

· Information about the amenities and neighborhood.
· Renderings of the project as well as construction photos.
· Floorplan layouts.
· Leasing agent contact information.

Highpoint at Columbus Commons rendering

As part of the Columbus Commons development, Carter was selected to develop the residential/retail phase of the plan. Carter has now purchased a 2-acre parcel in the park to construct two, six-story buildings that will contain 301 apartment units, as well as 23,000 square feet of ground-floor retail space.

“Highpoint on Columbus Commons will play a huge role in continuing the revitalization of downtown Columbus,” said Conor McNally, chief development officer for Atlanta-based Carter. “There is a growing trend right now of young people wanting to live in a downtown area. Highpoint on Columbus Commons will meet that demand.”

Beginning in April 2013, potential residents can visit the pre-leasing office at 10 N. High St., Suite 401. The residential mix will feature 1-bedroom, 2-bedroom and townhome units. The units themselves will boast state-of-the-art finishes coupled with resort-style amenities. Completion is scheduled for late 2013.
For a complete copy of the company’s news release, please contact:

Tony Wilbert
Wilbert News Strategies, LLC
404-888-3091
twilbert@wilbertnewsstrategies.com

Cassidy Turley Building Wins Greater Tampa Bay TOBY

Northdale Executive Center, Tampa, FL

TAMPA, FL, –Cassidy Turley, a leading commercial real estate services provider in the U.S., announced that a building it manages, Northdale Executive Center in Tampa, FL,, has won The Office Building of the Year (TOBY) award. This award represents the highest level of recognition from the Greater Tampa Bay Chapter of the Building Owners and Managers Association (BOMA).

Holly Hughes

BOMA Greater Tampa Bay awarded Northdale Executive Center with the TOBY in the Suburban Office Park, Low-Rise category during an awards ceremony Dec.13.

Northdale Executive Center includes the Northdale Executive Center I and Northdale Executive Center II buildings, which together comprise 138,772 square feet. The Class-A office buildings are located at 3810 and 3820 Northdale Boulevard in Tampa.

“Cassidy Turley is honored to have received this distinguished award from BOMA Greater Tampa Bay,” said Holly Hughes, Senior Managing Director of Cassidy Turley in Atlanta. “This recognition demonstrates our commitment to providing the best property management services to our clients.”

Winning a TOBY at the local level puts Northdale Executive Center in the running for a TOBY award at the regional and possibly international levels.

BOMA’s TOBY Awards recognize properties that exemplify superior building quality and management practices, evaluated on criteria ranging from community involvement and site management to environmental policies and procedures.

Contact:

Tony Wilbert
The Wilbert Group
404-965-5022
twilbert@thewilbertgroup.com