16A — June 14 - 27, 2019 — Creative Financing — M id A tlantic
Real Estate Journal
www.marej.com
C reative F inancing
LSMERE, DE — Rit- t enhous e Rea l t y Advisors announced Company announces sale of 802 Sansom St. in Philadelphia, PA for $5.77 million RRA sells 140 apartments outside of Wilmington, DE for $10.3 million E The garden-style property sits on over four acres off of Kirkwood Highway, making
it convenient to Prices Cor- ner Shopping Center along with numer- ous national r e t a i l e r s . Major area e m p l o y - ers include
the sale of P a r k l y n n Apartments, located at 5 Ruth Rd. in Elsmere, just a few min- utes from the City of Wilm- ington. The
Ken Wellar
Wilmington VA Medical Cen- ter, Christiana Care Health Center and the University of Delaware – Wilmington Campus. Mark Duszak
apartments feature hardwood flooring, oversized closets, updated kitchens and baths, off-street parking and on-site laundry facilities.
Parklynn Apartments
KenWellar, managing part- ner at RRA, stated: “We have noticed an increase of northern New Jersey and New York City based investors acquir- ing properties in the Delaware market. This was the buyer’s first acquisition in Delaware.” Mark Duszak , director at RRA, added: “Investor de- mand is extreme along the I-95 corridor from Delaware to Northern New Jersey, in large part due to Philadel- phia’s continued growth. This transaction reflects the strong demand for multi-family as- sets with upside through unit renovations.” In a second transaction, Rittenhouse Realty Advisors announced the sale of 802 SansomSt. (122-124 South 8th St.) in Philadelphia, PA. The mixed-use property contains 12 apartments and four street- level commercial/retail spaces. The residential units were recently updated and feature hardwood flooring, designer kitchens with stainless steel appliances and custom cabi- nets, and stackable washers and dryers. Large windows within the units provide plen- ty of sunlight and great views of the surrounding neighbor- hood and Jeweler’s Row. 802 Sansom St. is situated in Washington Square West, with easy access to Interstates 95, 76 and 676 as well as Broad Street and Columbus Boule- vard. With a great variety of nearby popular restaurants, shops and entertainment, the property is also convenient to SEPTA’s Regional Rail and the PATCO SpeedLine to New Jersey. The property attracted con- siderable attention from in- vestors but was ultimately purchased by an international buyer.
Sourcing the Best Financing for Your Real Estate Investments
Student Housing Philadelphia, PA $20M+ Refinance
Light Industrial/Office Delaware County, PA $2.89M Acquisition Funding
Mixed-Use Philadelphia, PA $3M+ Acquisition Funding
Multi- Family Bala Cynwyd, PA $27.6M Construction Loan
Office Building Chester County, PA $54M+ Acquisition Funding
196 Unit Assisted Living Montgomery County, PA $30M Construction Loan
RCA Places Financing for the Full Range of Commercial Real Estate Assets: Multi-Family, Retail, Office, Industrial, Healthcare, Hospitality, Development $1,000,000 to $100,000,000+
George Johnson President & CEO george@rittenhousecapital.com
Joe Hanuscin Sr. Client Manager joe@rittenhousecapital.com
Andrew Beauchemin Business Development andrew@rittenhousecapital.com
James Grande Business Development james@rittenhousecapital.com
For information visit www.RittenhouseCapital.com or call (215) 454-2852
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