PHILADELPHIA, PA–HFF has closed the sale of Halstead, a 198-unit apartment and townhome community in West Chester, PA.
HFF marketed the property on behalf of the seller, TGM Associates. Metropolitan Management Corporation purchased the property.
Halstead is situated on more than 11 acres at 812 Goshen Road near Routes 202 and 322 and the West Chester Pike in the heart of West Chester. The garden- and townhome-style property consists of six, two-story courtyard buildings containing 48 one-bedroom flats, 109 two-bedroom townhomes and 41 three-bedroom townhomes with flat-style units averaging 770 square feet each and townhome units averaging 1,076 square feet. Community amenities include a newly-renovated clubhouse, fitness center and bark park.
Senior managing directors Mark Thomson, Zac Pierce and Jose Cruz led the HFF investment sales team representing the seller.
“Halstead represents the opportunity to continue a proven renovation strategy in one of Philadelphia's most highly-acclaimed suburban submarkets. 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,” says Thomson.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
