Search
 

Simon Holdings Targets Larger Multifamily Complexes

PHILADELPHIA-After upgrading 19-unit and 16-unit complexes in Allentown and

By Marita Thomas | Updated on March 13, 2003

PHILADELPHIA-Linden, NJ-based Simon Holdings, Inc., sells West End Apartments in Allentown, PA, and Spring Garden Apartments in Easton, PA, to locally based Lysar Allen East LP. Two different Simon partnerships acquired the properties in 2000.

Both properties were upgrade significantly over the past two years. As a result of the upgrades and Simon’s management, operating costs declined and revenues increased, according to a statement from Simon.

West End was built in 1975 and consists of 19 units. Spring Garden is a pre-1940 complex containing one commercial space and 16 residential units. The properties are 95% occupied.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.