With the robust West Chester economy cited as a driving factor, Metropolitan Management Corp. plunked down $36.5 million to buy the 198 apartments and townhomes at Halstead, which lies “near Routes 202 and 322 and the West Chester Pike, just minutes away from downtown West Chester,” according to a Commercial Property Executive report.
“Halstead represents the opportunity to continue a proven renovation strategy in one of Philadelphia’s most highly-acclaimed suburban submarkets,” Holiday, Fenoglio & Fowler salesman Mark Thomson said. “Investors continue to target West Chester due to strong rental growth, low vacancy, high household income, and the increasing number of jobs throughout the area.”
Halstead’s six 1976-built two-story buildings on 11 acres were sold by TGM Associates through HFF.
Read more about the transaction and features of Halstead in Commercial Property Executive here.
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