2C — July 14 - 27, 2017 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
P ennsylvania
ancaster, PA — The Kislak Company, Inc. announced the recent New class A property with 144 units trades Kislak sells Hawthorne Gardens in Lancaster for $17.2million L
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sale of Haw- thorne Gar- dens, a 144- unit class A a p a r t m e n t c omp l ex i n Lancaster for $17.2 million. K i s l a k
Lancaster York Reading Hanover Malvern Hunt Valley www.barley.com @barleysnyder
marketed the property on an exclusive basis. Presi- dent Robert Holland rep- resented the seller and se- nior vice pres- ident Barry Waisbrod represented the purchaser. Hawthorne Gardens was built in 2014 and is a garden- style apartment complex with 144 two-bedroom, two-bath- room units. Units offer nine- foot ceilings, spacious floor plans with abundant closet space, individually controlled HVAC units, full-sized washers and dryers and private patios or balconies. Property ameni- ties include a clubhouse, fitness center and business center for tenants. Robert Holland Barry Waisbrod
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Hawthorne Gardens
Conveniently located in Lancaster County with over 600,000 residents, Hawthorne Gardens provides tenants with easy access to shopping centers, public schools, and houses of worship via major Rtes. 30, 22 and the PA Tpke. “The property was twice listed with national broker- age firms that did not sell it,” said Holland. “Central Penn- sylvania, which is more of a secondary and tertiary market, tends to attract regional in- vestors. We have been selling apartments in the market for decades and generated very strong interest in and multiple offers for the property. We continually produce the highest and best prices for our clients.”
“The purchaser was inter- ested in the Lancaster market and this class A property was a great opportunity for him,” said Waisbrod. Holland joined Kislak in 1984, is one of the firm’s all- time leading salespeople 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. Waisbrod joined Kislak in 2001 and is also consistently among the firm’s leading sales- people. He specializes in the sale of investment properties in and around New Jersey. n
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