HFF closes the $11.5m sale of a multi-housing community
BENSALEM, PA — HFF announced that it has closed the $11.5 million sale of Crestwood Apartments, a 165-unit, value-add, garden-style multi-housing community in Bensalem. HFF marketed the property on behalf of the seller, 3241 ASSOCIATES LP.
Crestwood Apartments is situated on 5.14 acres at 3241 Hulmeville Rd. The property is located between Rte. 1 and I-95, providing access to Center City Philadelphia, the Pennsylvania Turnpike and New Jersey. The fifteen three-story buildings have 65 one-, 95 two- and five three-bedroom units with 240 parking spaces reserved for tenants and guests.
The HFF investment sales team representing the seller was led by senior managing directors Mark Thomson and Zac Pierce.