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Abington Apartment Complex Fetches $37.5M

Nov 16, 2012 | Reprints | Unlock Link | Print

212 Bedford St., Abington A 180-unit apartment complex in Abington has been sold for $37.5 million.

Greystar purchased the Abington Woods Apartment Complex at 212 Bedford St. from The Heritage Cos. The 16-building complex sits on 36 acres and originally was developed as a condominium complex in 2006. It has an indoor pool, fitness center, business center and community room.

Neil Denenberg and Jonathan Blacker of Denenberg Realty Advisors represented both the buyer and seller.

"This sale is a great indicator that the multi-family market is extremely hot right now," Denenberg said in a statement. "We have seen multiple offers on properties that have achieved sub-5 percent cap rates in several markets. While interest rates are low, the interest in apartment assets will stay high."

Commercial & Industrial