6B — May 29 - June 11, 2020 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers Weilheimer leads the Colwyn Apartments assignment The Kislak Co., Inc. sells multifamily properties in Greater Philadelphia for $6.35 million
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Foxcroft Apartments at 440 North Black Horse Pike in Blackwood that sold for $2.5 million. Kislak marketed Colwyn Apartments and The Ashby on behalf of the same seller with senior vice president Matt Weilheimer leading the assignment. Weilheimer also procured the purchaser, a longtime Kislak client. “The purchasers of the proper- ties recognized the value-add potential with significant upside in rents,” said Mr. Weilheimer. With the sale of Foxcroft
Apartments, Wei lheimer teamed up with senior vice president Joseph Keenan on behalf of the seller and senior vice president Robert Squires in procuring the purchaser. “This property also was a value-add opportunity and the transaction involved a seller and purchaser who are longtime Kislak clients and who, over the course of the transaction, witnessed dramatic pricing increases in southern New Jersey.” The properties consists of two garden-style apart- ment buildings containing 34 residential units at Colwyn Apartments; 48 one- and two- bedroom units in a four-story building at The Ashby; and 40 one-bedroom apartments in two, two-story garden-style buildings at Foxcroft Apart- ments. The properties offer conve- nient access to both Phila- delphia International Airport and the city of Philadelphia in under a half hour via SEPTA Regional Rail and Bus. Routes 76 and 42 allow easy access to Philadelphia in a similar timeframe for New Jersey residents at Foxcroft. Weilheimer joined Kislak in 1996 and is consistently among the firm’s leading salespeople. He specializes in the sale of apartment build- ings, REO assets and other investment properties in New Jersey, New York, Delaware and Pennsylvania. He has won numerous sales produc- tion awards including the firm’s 2010 and 2015 Produc - tion awards. Keenan joined Kislak in 2006 and specializes in the sale of multifamily and oth- er investment properties throughout northern New Jersey. He received the firm’s Rookie of the Year award in 2008, was promoted to a vice president in 2012 and a senior vice president in 2019. Squires joined Kislak in 2003 and specializes in the sale of multifamily and oth- er investment properties throughout New Jersey. He received Kislak’s 2017 and 2016 Sima Kislak Jelin Sales- person of the Year award and its 2017 Producer of the Year award. Also in 2017, Squires earned the historic distinction of becoming Kislak’s all-time leading salesperson in any cal- endar year in the firm’s then 111-year history.
OODBR I DGE , NJ — The Kislak Company, Inc. an-
nounced the recent sale of 123 residential units in three apartment complexes in Dela- ware County, Pennsylvania and Camden County, New Jersey for a total of $6.35 million. The Pennsylvania proper- ties include Colwyn Apart- ments at 300 Main St. in Colwyn and The Ashby at 6830 Ludlow St. in Upper Darby that sold for $1,550,000 and $2,300,000, respectively. The New Jersey property is
The Ashby in Upper Darby, PA
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