McManus said: "This unique Property commanded multiple offers during construction, throughout the lease-up, and post-stabilization; and, as a result of our best-in-class formal listing process, we're pleased to once again deliver first-class results for our valued, repeat clients by achieving an exceptional price per unit at sale."
McManus said: "This site commanded multiple offers once it hit the market but ultimately, Our Client's track record, substantial neighborhood holdings and healthy reputation — coupled with strong terms, efficient due diligence and a mobilized pre-development effort — prevailed." He also said, "As a Qualified Opportunity Zone parcel, the site contributed additional benefits for Our Client; and, from a brokerage standpoint, we continue to witness a 'flight to quality' in the second half of 2022, as top submarkets throughout Greater Philadelphia are aggressively being pursued while fringe areas stagnate."
McManus said, "Kensington Courts is like a micro-city nestled high above the most popular residential submarket in Philly today – Fishtown/Kensington. The Riverwards Group masterfully transformed a 185,000 SF vacant parcel into a diverse new community of townhomes, apartments and retail– carefully balanced with ample parking and green space for its residents – homeowners and renters alike." He said, "Our Client, The Buyer, recognized this unique opportunity to acquire a best-in-class, brand new, stabilized rental community at an attractive basis, located in a growing, yet coveted area which suggests higher-than-average rent growth and asset appreciation for years to come, based on market KPI's and vital investment metrics."
"Agent PHL Brokers 75-Unit Investment Sale in Philadelphia for $21,338,000”
McManus said: "This asset commanded multiple offers before and during our formal listing process and we're pleased to once again deliver first-class results for our valued client, Argo Property Group."
“Agent PHL Brokers Sale of Boutique Apartment Building in Philadelphia for $2,150,000”
Said McManus: "Our client was referred to us through the Compass New York office based on our strong relationships at our company headquarters. And, in under one month of engagement, we were able to get The Client under agreement on this prized off-market acquisition through our distinct, market-leading connections within the Philadelphia development community."