9/11/2008

Student housing complex in Pennsylvania trades for $19.38M

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The Bard Townhouses, a 173-unit apartment complex in Shippenburg, Pa., has been sold for $19.38 million by Shippenburg Townhouses, LLC.

The deal was negotiated by Brian Kelly, a broker in Marcus & Millichap's Indianapolis, Ind., office and Spencer Yablon, a manager in the firm's Philadelphia office.

The townhouses are located at 100 Bard Dr. and are comprised of 23 two-story buildings on a 32.54-acre lot. The property, which was built in phases between 1988 and 2004, is currently 100-percent occupied and contains 176,280 square feet. It sits across the street from Shippenburg University, an institution with 7,600 students.

Address: 100 Bard Drive, Shippenburg, Pa.

Size: 173 units

Built: 1988-2004

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Filed Under: Multi-Family

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