Solomon Takes Belair Townhomes for $21M

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LANCASTER, PA-The Summit, NJ-based Solomon Organization follows its January acquisition of Stone Mill Station in nearby Manor Township with the purchase of Belair Townhomes, a 208-unit multifamily complex at 590 Candlewyck Rd. in suburban Manheim Township. The price tag was $21 million, or $100,961 a unit, according to Robert Holland, SVP and co-managing director of the Woodbridge, NJ-based Kislak Co.

Holland marketed the property for SherWal Co. and procured the buyer. He says the asset was built between 1978 and 1988 and was 98% occupied at the closing of the sale. Alan Popowitz of the Philadelphia-based WolfBlock law firm represented Solomon in the transaction.