PITTSBURGH-Philadelphia Management Co. is closing a deal to purchase a 117-unit apartment complex called the Penn Garrison on Penn Avenue in Pittsburgh. The firm is anticipated to pay $13.5 million or nearly $115,000 per unit to the Regional Industrial Development Corp. of Southwestern Pennsylvania. This will be Philadelphia Management's second major acquisition in Pittsburgh.
The apartment complex, which comprises two-bedroom with two bathroom units and studios, is almost completely leased.For the full story, go to Pittsburgh Business Times.
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