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MALVERN, PA-The owner of Woodview Apartments, has obtained first-mortgage financing of approximately $30 million. The seven-building, 264-unit multifamily complex is located at 311 E. Lancaster Ave. here.

Thomas Minehart, EVP in the Philadelphia regional office of Minneapolis-based NorthMarq Capital Inc., arranged the funding through JP Morgan. The NorthMarq statement announcing the funding referred to the borrower as Woodview Partnership, and Minehart declined to provide GlobeSt.com with any details about the property, the borrower or the transaction, but referred the caller to Scott Relick, a principal of Plymouth Meeting-based Korman Communities. Relick requested questions by email and did not respond to the request by deadline.

An on-site representative tells GlobeSt.com that the property was built eight years ago and is currently 100% leased, with some availabilities opening in October. She confirms the rental rates, partially listed on Korman’s website. One-bedroom units rent for between $1,199 and $1,299 a month, she reports, and two-bedroom units rent for between $1,699 a month and $1,799 a month. Among the property’s amenities are a business center and conference room, pool, fitness center, concierge and valet dry cleaning services.

Korman manages and owns hotels, apartments and corporate suites in many locations, including the Philadelphia, New York and Washington, DC metro and suburban areas along with properties in North Carolina’s Research Triangle Park. The Woodview complex is on the Main Line near Valley Forge Corporate Center and Valley Forge National Park.

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