BETHLEHEM, PA-Salmanson Capital has purchased an off-campus student apartment portfolio within the Lehigh University blocks in Bethlehem. The New York-based real estate firm paid $15.2 million for the student housing portfolio, which includes 394 beds and 108 units in 50 properties.
Ackman Ziff arranged a 10-year CMBS loan for the acquisition through Citibank. The buildings will be renamed as Campus Hill Apartments. The seller was an undisclosed local owner. For the full story, go to Philadelphia Business Journal .
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