8/29/2008

Marcus & Millichap sells Philadelphia apartments

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The Oxford Terrace Apartments, a 77-unit apartment complex in Philadelphia, Pa., has been sold in a deal brokered by Marcus & Millichap.

Fred Paisley, an investment specialist in the firm's Philadelphia office, represented both parties in the deal. The property is located in the Lawndale section of Northeast Philadelphia at 6614-6618 Oxford Ave. It is comprised of 77 one-bedroom units.

"With this transaction, the seller completed his liquidation of Philadelphia area apartment properties in order to fully focus on Florida retail development," Paisley said. "In an effort to add scale to existing holdings in Northeast Philadelphia, the buyer intends to add value through aesthetic improvement to the units and exterior."

Address: 6614-6618 Oxford Ave., Philadelphia, Pa.

Size: 77 units

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Filed Under: Multi-Family

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