PHILADELPHIA-Huntingdon Valley, Pennsylvania-based Paradise Property has acquired Village Square, a 694-unit apartment community in Bensalem. The company paid $71 million to purchase the garden-style apartment community.
The property, which comprises 694 apartments in 56 two-story buildings, is situated on a 40-acre parcel at 1600 Brookwood Drive. The seller was Korman Residential, which constructed the complex and has maintained it since 1971. The apartment complex was over 90% occupied at closing. Cushman & Wakefield Inc. handled the deal. For the full story, go to Philadelphia Business Journal .
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