P ennsylvania

S hopping C enters

493 units trade in separate transactions Holland of Kislak completes $41.6 million multifamily sales in Lancaster, PA L www.marejournal.com M id A tlantic Real Estate Journal — Pennsylvania — Section C ANCASTER, PA — The Kislak Company , Inc. announced the re-

Stone Mill Station Apart- ments is a 125-unit apartment complex. The property was built in 1966 and is situated on 5.3 acres with 11 three-story buildings. Amenities include individually controlled HVAC units, large spacious floor plans, walk-in closets, laundry facilities and off-street park- ing. Approximately 89% of the units have been renovated. “Quail Run and Stone Mill are located close to one an- other, allowing the owner to provide multiple options and floor plans for prospective ten- ants as well as saving money by sharing some of the services between the properties,” said Holland. Greenland Village is a 180- unit garden-style apartment complex located in a quiet, resi- dential neighborhood adjacent to the 43-acre Flory Park. Over $1 million in capital improve- ments was invested over five years, including new kitchens and baths in 160 of the units. The property has individual entrances. Greenland Village is located minutes from major highways Rte. 30, Rte. 220 and the PA Tpke. City View Apartments is a

52-residential unit, six-story elevator mid-rise apartment building with balconies and on- site parking and garages. The property was built in 1965 and underwent significant renova- tions in 2010. The property is located one block south of Lancaster General Hospital and across the street from Lancaster General College of Nursing and Health Services. At the time of closing, the prop- erty was fully occupied. “City View demonstrates the rising trend of tenants to mov- ing back to cities. The ability to walk to a coffee shop or restau- rant or shopping has become increasingly more popular with residents who don’t want to have to drive everywhere,” said Holland. “Lancaster’s downtown has had a renais- sance while retaining its old world charm.” Holland joined The Kislak Company, Inc. in 1984 and became president in 2012. In addition to overseeing the company and managing a team of salespeople, he specializes in the sale of multifamily and other investment properties throughout central and eastern Pennsylvania. n property management or- ganization, and as a senior real estate advisor and com- mercial broker. He holds the CRE designation from the Counselors of Real Estate and has served as a national board member of the Build- ing Owners andManagers Association . Hirsch has closed some of the largest transactions in Southeast- ern Pennsylvania including regional campuses for PNC Bank, Raytheon Engineers, Cigna and the University of Pennsylvania, as well as large land sales for institu- tional owners throughout the region. U.S. Commercial Realty has just launched an updated website to better accom- modate mobile devices and showcase available proper- ties for sale or lease. Addi- tional information about all personnel is also available. n

cent sale of four multi- family prop- erties in Lan- caster, for a total of $41.6 million. The sepa- rate transac- tions includ-

Robert Holland

HI-LIGHTS APRIL 15 - 28, 2016 ed the $20.6 million sale of Quail Run Apartments and Stone Mill Station Apartments with a total of 261 units that were sold together; the $16

Quail Run Apartments

million sale of Greenland Vil- lage, a 180-unit property; and the $5 million sale of City View Apartments, a 52-unit prop- erty. Kislak marketed all of the properties on an exclusive basis and president Robert Holland represented all parties in the transactions. “Central PA remains a strong rental market and is attractive to multifamily investors be- cause of its growing job markets and population, said Holland.” “This growth fuels demand LANCASTER, PA—U. S. Commercial Realty has ex- panded and added three new personnel. Brokers Daniel Berger and Arthur Hirsch have recently joined the firm as well as executive adminis- trator Melissa Kelty . Berger arrives with over 30 years in real estate, almost all of them in commercial real estate. He has been active in all facets of commercial brokerage, including sales and leasing, investment, land development, property management and consulting. Berger has earned the pres- tigious CCIM (Certified Commercial Investment Member) designation as well as the SIOR (Society of Industrial Office Real- tors) designation. He is a past recipient of the Com- mercial & Industrial Member of the Year award. Berger is a member of the Lancaster

for multifamily housing and gives owners of multifamily properties rent growth year after year.” Quail Run Apartments is a 136-unit apartment complex with private entrances and off- street parking. Constructed in 1965, the property is situated on 10.1 acres with 17 two-story buildings. Units feature walk- in closets, dishwashers, and balconies or terraces. Approxi- mately 67% of the units have been renovated.




U.S. Commercial Realty adds Berger, Hirsch & Kelty

Daniel Berger

Arthur Hirsch

Melissa Kelty

member of the National As- sociation of Realtors (NAR), Pennsylvania Association of Realtors (PAR), Lancaster County Association of Real- tors (LCAR) and LCAR’s Lancaster Commercial & In- dustrial Real Estate Council. Arthur ‘Bud’ Hirsch, based out of Philadelphia, joined the firm late last year. His real estate career spans over 30 years with experience as an investor and owner, manager of a full service

County Association of Re- altors, PA Association of Realtors and the National Association of Realtors. He’s been involved in nearly $100 million in transactions in the last five years and has represented companies such as Pepsi Co., Alumax Inc., M&T Bank, and many locally owned and operated busi- nesses and organizations. Berger’s executive admin- istrator, Melissa Kelty was licensed in 2005 and is a





Made with FlippingBook HTML5