Real estate trust lands Pennsylvania portfolio

Sale facilitated through 1031 exchange

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

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