A trio of multifamily properties here with an aggregate of 65 residential units sold for almost $2.6 million, or about $39,615 a unit. In an unrelated transaction, Royer Building, home to Royer's Pharmacy at 13 North State Street in Ephrata in Lancaster County, which has 26 apartments in addition to some retail, sold for just under $1.3 million.
The Parkside properties are Mill Race, Edgemont Park and Colony Gardens. Two of the buildings are on quiet residential streets near Wallingford and Woodlyn, while the third is within walking distance of offices and downtown retail. All have off-street parking and on-site laundry facilities.
Atlantic Resources II LLC sold the portfolio to M&E Real Estate Holdings. Ridge MacLaren of the Philadelphia M&M office was the exclusive listing agent.
In the other transaction, area investor David Kahn acquired Ephrata's Art Deco style Royer Building from Ronald Chapman. It has seven retail storefronts, including Royer's Pharmacy, a longtime tenant, which will stay put; and a second-story office in addition to the 26 one- and two-bedroom apartments. Ken Hobson of M&M's Philadelphia office was the exclusive listing agent for this transaction.
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