A prominent apartment community in Bala Cynwyd has changed hands, underscoring the continued strength of southern Montco’s multifamily market, writes Paul Schwedelson for The Philadelphia Business Journal.
A 173-unit Bala Cynwyd apartment building has sold for $48.3 million, or roughly $279,000 per unit, to a joint venture of out-of-state investors.
The five-year-old property at 9 Presidential Blvd. was developed by Fort Washington-based Westrum Development. It was acquired by a partnership between Scottsdale’s Alliance Residential and Los Angeles-based PCCP. The buyers financed the purchase with a $37 million loan from Acre Capital, arranged by Berkadia.
Formerly known as Luxor Bala Cynwyd, the property has already rebranded as Wyncrest Bala Cynwyd. The community includes studio, one-, and two-bedroom apartments with modern finishes. It comes with amenities such as a pool, fitness center, golf simulator, courtyard, and garage parking. Monthly rents currently range from about $1,635 to $2,800.
The sale reflects broader momentum in the southern Montco multifamily submarket, which posted a 96.5% occupancy rate in CBRE’s latest quarterly report. Rent averaged around $2,065 per unit. Nearby large apartment deals, including recent sales in Lansdale and Conshohocken, point to sustained investor interest across the county.
To learn more about the deal and the regional apartment market, visit The Philadelphia Business Journal.
Editor’s Note: This post was originally published on MONTCO Today in January 2026.
