LANCASTER, PA-The Kislak Co. has orchestratedthe $46.1 million sale of Hershey Heritage Village, a 518-unitapartment complex in Lancaster, PA, to the SolomonOrganization. Kislak president and co-managingdirector Robert Holland represented both parties,in the transaction.

Solomon was able to take advantage of deferred taxes on aprevious sale through a Section 1031 exchange, Holland tellsGlobeSt.com. In January, Kislak handled the $36.7 millionsale of a four-property multi-family portfolio with a total of 430units in Bethlehem, PA, for Solomon.

“This was an extraordinary opportunity to acquire a single assetwith more than 500 units in a very desirable location and market,”Holland says. “The seller was the original developer of theproperty and had owned it for nearly 40 years.” The property, whichwas about 95 percent occupied at the time of the sale, includes 41two-story brick garden-style apartment buildings.