28A — October 2025 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers Marketing led by Corey Lonberger highlights strong value-add potential GREA Mid-Atlantic sells trophy assets totaling 256 apartment units in Montgomery County, PA
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HILADELPHIA, PA — GREA’s Mid-At- lantic announced the
sale of two apartment communi - ties in Sub- urban Phil- adelphia: Fox Ridge Apartments located in Limerick,
Corey Lonberger
Pennsylvania and Lake View Park Apartments, located in Royersford. These notable properties, situated within robust rental
Fox Ridge Apartments
Lake View Park Apartments
markets, consistently main - tain an average occupancy rate of 98% or higher. Each of- fers a well-balanced selection of one- and two-bedroom units, complemented by commu- nity amenities, off-street park - ing, and convenient access to nearby shopping and dining destinations. All apartments feature private balconies or patios, separate entrances, and in-unit washers & dryers. Corey Lonberger , found- ing partner at GREA led the marketing processes on behalf of the seller. He stated: “This was a very unique opportunity as the properties have been owned and managed by the original builders since they were constructed. The prop- erties have been kept in im - maculate condition and given current rents in-place offered the new owners significant upside potential with minimal work needed to units or com - mon areas.” “These two sales were part of a four property portfolio sale and we are actively marketing the two remain - ing properties,” added Luke DeLuca , managing director at GREA. “The properties are Henderson Square in King of Prussia and Amber- ley at Blue Bell, located in Blue Bell. The buildings were in excellent condition but with a strong value-add oppor- tunity due to rents being below market. Ken Wellar , founding partner, added: “The buyer was AION Part- ners out of New York, a well-known and respected buyer in our marketplace. They plan to implement their unique management approach to significantly increase the NOI at the properties.” MAREJ
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