HFF closes sale of apartment and townhome community in West Chester, PA

Halstead Apartments and Townhomes, 812 Goshen Road, West Chester, PA

Mark Thomson

PHILADELPHIA, PA – HFF announced it has closed the sale of Halstead, a 198-unit apartment and townhome community in West Chester, Pennsylvania. 

HFF marketed the property on behalf of the seller, TGM Associates.  Metropolitan Management Corporation purchased the asset.

Halstead is situated on more than 11 acres at 812 Goshen Road near Routes 202 and 322 and the West Chester Pike in the heart of West Chester. 

The garden- and townhome-style property consists of six, two-story courtyard buildings containing 48 one-bedroom flats, 109 two-bedroom townhomes and 41 three-bedroom townhomes with flat-style units averaging 770 square feet each and townhome units averaging 1,076 square feet.  Community amenities include a newly-renovated clubhouse, fitness center and bark park.

The HFF investment sales team representing the seller was led by senior managing directors Mark Thomson, Zac Pierce and Jose Cruz.

Zac Pierce

                “Halstead represents the opportunity to continue a proven renovation strategy in one of Philadelphia’s most highly-acclaimed suburban submarkets.

  Investors continue to target West Chester due to strong rental growth, low vacancy, high household income, and the increasing number of jobs throughout the area,” said Thomson. 

                Pierce added, “We’ve had success in marketing more than 700 units in and around the borough in the past two years.”

Founded in 1991, TGM Associates is an investment advisory firm with a focus on multifamily properties.  

The firm acquires, manages and sells apartment properties throughout the United States. 

  Since its inception, TGM has invested in more than $1.8 billion in 117 multifamily residential properties throughout 28 states.  The firm’s current portfolio contains 50 properties in 23 states with more than 13,000 units.

Judi Goldstein

Metropolitan Management Corporation has amassed a diversified portfolio of more than $500 million, owning a majority of these holdings with an impressive mix of successful multifamily communities, retail and office properties. 

Founding principals A. Scott Fagan and Judi Goldstein, are both native Philadelphians and are the driving force behind Metropolitan Management Corporation, utilizing this extensive property management experience.  MMC has quickly developed into a full service organization with an exceptional track record for profitability.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com