{"id":16235,"date":"2025-10-19T16:38:54","date_gmt":"2025-10-19T21:38:54","guid":{"rendered":"https:\/\/1reason.com\/re\/grea-mid-atlantic-sells-trophy-assets-totaling-256-apartment-units-in-highly-sought-after-montgomery-county-pa\/16235\/"},"modified":"2025-10-20T11:38:54","modified_gmt":"2025-10-20T16:38:54","slug":"grea-mid-atlantic-sells-trophy-assets-totaling-256-apartment-units-in-highly-sought-after-montgomery-county-pa","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/grea-mid-atlantic-sells-trophy-assets-totaling-256-apartment-units-in-highly-sought-after-montgomery-county-pa\/16235\/","title":{"rendered":"GREA Mid-Atlantic Sells Trophy Assets Totaling 256 Apartment Units in Highly Sought After Montgomery County, PA"},"content":{"rendered":"
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These notable properties, situated within robust rental markets, consistently maintain an average occupancy rate of 98% or higher. Each offers a well-balanced selection of one- and two-bedroom units, complemented by community amenities, off-street parking, and convenient access to nearby shopping and dining destinations. All apartments feature private balconies or patios, separate entrances, and in-unit washers & dryers.<\/p>\n

Corey Lonberger, Founding Partner at GREA led the marketing processes on behalf of the seller. He stated: \u201cThis was a very unique opportunity as the properties have been owned and managed by the original builders since they were constructed. The properties have been kept in immaculate condition and given current rents in-place offered the new owners significant upside potential with minimal work needed to units or common areas.\u201d<\/p>\n

\u201cThese two sales were part of a four property portfolio sale and we are actively marketing the two remaining properties,\u201d added Luke DeLuca, Managing Director at GREA. \u201cThe properties are Henderson Square in King of Prussia and Amberley at Blue Bell, located in Blue Bell.<\/p>\n

The buildings were in excellent condition but with a strong value-add opportunity due to rents being below market. Ken Wellar, Founding Partner, added: \u201cThe buyer was AION Partners out of New York, a well-known and respected buyer in our marketplace. They plan to implement their unique management approach to significantly increase the NOI at the properties.\u201d<\/p>\n

For more information on current rates or to view our available listings visit www.GREA.com<\/u><\/a>.<\/p>\n

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GREA has been a leader in multifamily commercial real estate in Philadelphia and the surrounding markets since 2013. With our extensive local market knowledge, we pride ourselves in helping our clients from acquisition to disposition and through every major capital event.<\/p>\n

Press Contact: Ken Wellar and Corey Lonberger
Founding Partners
215-454-2852<\/p>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/e993ce5c-7a27-490e-ae91-75099b1448a3<\/a><\/p>\n

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PHILADELPHIA, Oct. 01, 2025 (GLOBE NEWSWIRE) — GREA\u2019s Mid-Atlantic team is pleased to announce the sale of two apartment communities in Suburban Philadelphia: Fox Ridge Apartments located in Limerick, Pennsylvania and Lake View Park Apartments, located in Royersford, Pennsylvania.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/16235"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=16235"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/16235\/revisions"}],"predecessor-version":[{"id":16248,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/16235\/revisions\/16248"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=16235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=16235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=16235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}