Real estate trust lands Pennsylvania portfolio

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.

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