1/28/2008

Unity Corp. sells Delaware apartments

by

Mayfair Apartments

In a 1031 exchange, Wilmington, Del.-based Unity Corporation has sold the Mayfair Apartments in Wilmington, for $9.27 million to Brooklyn, N.Y.-based 60 East 3rd Street Co. LLC.

Mark Thomson of Marcus & Millichap's Philadelphia, Pa., office represented Unity Corporation.

Built in 1941, the apartment complex is located at 1300 N. Harrison St. and contains 108 units. It was sold with a 5.7 percent capitalization rate and was fully occupied at the time of sale.

Marcus & Millichap also negotiated the $3.22 million sale of a Rite Aid in Nanticoke, Pa. Mark Thomson represented Princeton, N.J.-based The Dreher Group in the sale of the retail site to DG Ran, LLC. The building is located at 5 East Main St.

Address: Mayfair Apartments at 1300 N. Harrison St., Wilmington, Del.
- Rite Aid at 5 E. Main St., Nanticoke, Pa.

Size: 108 units

Built: 1941

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Filed Under: Multi-Family

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