Rittenhouse Realty Advisors Sells 82 Units Totaling $5,360,000 in Delaware County, PA

PHILADELPHIA, May 08, 2017 -- Rittenhouse Realty Advisors is pleased to announce the sale of the Foxcroft Terrace Apartments, to be rebranded by the new owner as Forest Creek Apartments, located at 300 N. Front Street in Yeadon, Delaware County, PA.  The 82 unit property consists of all two-bedroom units, many with balconies.

Forest Creek Apartments

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e8aabe82-fe58-42d1-ac5d-a0edc249760d

The buyer in the transaction was out of Northern New Jersey.  Ken Wellar, Managing Partner at RRA, stated: "This is the third apartment community we have sold to this buyer in the last year.  He is very bullish in the Southeast Delaware County market and has added over 300 units to his portfolio from this area alone.”

Forest Creek is close to the SEPTA Regional Rail to Philadelphia/Wilmington, as well as several bus lines, and is convenient to I-95 and just a 25 minute drive to Center City, Philadelphia.  “Delaware County is one of Philadelphia's most active suburban markets. The strong buyer appetite for multi-family product is evidence of the strength of this submarket,” noted Mark Duszak, Director at RRA.

Corey Lonberger, Managing Partner of RRA, added: "This is the sixteenth multi-family property that RRA has sold in 2017. Our unique marketing process is targeting buyers from throughout the Mid-Atlantic, who are paying aggressive numbers for these assets.”

For more information on current rates or to view our available listings visit  www.RittenhouseRealty.com.

Based in Philadelphia, Pennsylvania, Rittenhouse Realty Advisors is a real estate advisory firm with an extensive focus in the brokerage of multi-family communities throughout the northeast region of the United States. Formed in February 2013 by a group of advisors with more than 30 years of commercial investment sales experience, our focus is on multi-family and mixed-use properties with significant residential components.
www.RittenhouseRealty.com

Press Contact: Corey Lonberger and Ken Wellar
Managing Partners
215-454-2852