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Mid Atlantic Real Estate Journal — Pennsylvania — Section C
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Marcus & Millichap serves as broker & CBRE Capital Markets provides financing Tryko Partners, LLC acquires 86-unit Leechburg multifamily community for $4.2m L
EECHBURG, PA — Tryko Partners, LLC has acquired Sandalwood Apartments, an 86-unit afford- able housing rental community in Leechburg for $4.2 million. Tryko, which specializes in project-based, Section 8 Hom- eowners Assistance Program (HAP) transactions, purchased Sandalwood Apartments from American Housing Partners, Inc. Located on 10 acres at 253 Sandalwood Dr., the property consists of 16 buildings includ- ing mostly two- and three-bed- room townhomes.
“This is a great property in a quiet neighborhood,” said Tryko Partners’ Uri Kahanow , director of acquisitions. “From an investment standpoint, it made sense for us to take ad- vantage of the chance to grow our presence in the Pittsburgh region, which remains a prime target market for us. It also fits well in terms of product type as we continue to strategically expand our affordable housing portfolio.” Marcus&Millichap served as broker in the transaction. CBRE Capital Markets
provided financing. “This transaction is our second financing with CBRE through its Freddie Mac plat- form,” said Chad Buchanan , Tryko’s chief investment officer. “Even though Sandalwood Apartments is a smaller mul- tifamily asset, their office gave it a level of attention we would expect for a much larger oppor- tunity, along with the best pos- sible execution. We currently are in the process of closing two more properties with CBRE and look forward to continuing this productive relationship.” ■ Hay St., York City. ROCK rep- resented both the tenant and landlord in the transaction. • JeffreyA. Miller leased and 840 s/f barber shop located at 12 Locust Grove Rd., Springetts- bury Twp. ROCK represented both the landlord and tenant in the transaction. • David Gettle leased 1,972 s/f of retail space at 6 East Main St., New Freedom Bor- ough. ROCK represented both the landlord and tenant in the transaction. • Community Options leased 2,146 s/f of office space at 2860- 2870 Carol Rd., Springettsbury Twp. ROCK represented the landlord in the transaction. ■
Sandalwood Apartments 12 transactions totaling just under 85 thousand sf of sold and leased space Rock Commercial Real Estate reps. buyer and seller in $1,212,500 sale of manufacturing facility
JANUARY 17 - 30, 2014
HI-LIGHTS
CENTRAL PA — ROCK Commercial Real Estate (ROCK) completed 12 trans- actions totaling just under 85 thousand s/f. ROCK represent- ed both parties in the following settlements: • Delaro Enterprises, LLC purchased a 7,096 s/f machine shop for $190,000, located at 209 High St. Rear, Hanover Borough. • Bimax Realty, LLC pur- chased a 12,312 s/f light manu- facturing facility $1,212,500 at 281 Industrial Rd., Springfield Twp. • Dean’s List Realty, LLC purchased a 12,420 s/f profes- sional office $198,000 at 298 Kings Mill Rd., York City. • Encompass Props., LLC leased 3,240 s/f at 100 Rail Rd. Ave., Westminster, MD. • Nuts About Granola, LLC leased 5,384 s/f at 235-245West Market St., York City. • OneWayMechanical leased 4,000 s/f of industrial space at 3331 Gulton Rd., West Man- chester Twp. • Sapio Sciences, LLC leased 1,500 s/f of retail space at 555 Ryan Run Rd., Manchester Twp. • Atomic Bounce leased 11,114 s/f of space at 1022 Mount Rose Ave., Spring Gar- den Twp. • Winter Ventures leased 22,730 s/f of space at 701 East
SPOTLIGHT
Eastern PA 5-12C
CBRE team rep. owner in $40.5m acquisition
5C
General Dynamics building
Beacon completes $4.373 million sale
610-930-2800
6C
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