Pennsylvania’s Twelve Trees deal closes

Upgrades planned for residential asset

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The Twelve Trees Apartments in Paxton Township, Pa., have sold in an all-cash deal for $9.3 million, brokerage The Kislak Co. Inc. announced today. Representing both the buyer, LCL Equities, and the seller, Paxton Hills Associates Ltd., in the transaction, Kislak said the 136-unit multifamily complex comprises three two-story buildings containing 60 units and six two-story buildings containing 76 townhomes, made up of one-, two- and three-bedroom units. Amenities at the property include a pool, pool house, tennis court, playground and Capital Area Transit bus service. At the time of the sale, the property was 95 percent occupied. The buyer has plans to substantially upgrade the property including exterior and interior upgrades as well as to separately meter the utilities for each unit. *** What's your opinion? Leave your comments below or send a letter to the editor. ...