Marcus & Millichap arranged the sale of a five-property apartment portfolio in Delaware County, Pa.
The total value of the portfolio was $12.4 million.
RJL Realty Associates, a New York-based trust, acquired the 288-unit portfolio in a 1031 exchange. The seller was Atlantic Cos., a New Jersey-based investment partnership.
Four of the communities are located in Lansdowne Borough and the fifth is in Yeadon Borough. Occupancy averaged 94 percent at the time of sale.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
What’s your opinion? Send your Letter to the Editor to firstname.lastname@example.org.