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$9M Takes 136-Unit Twelve Trees Apartments

HARRISBURG, PA-The nine buildings will be upgraded and repositioned to bring the occupancy past its current 95% mark.

By Erika Morphy | Updated on March 24, 2008

HARRISBURG, PA-A 136-unit apartment complex here has traded for $9.3 million in an all-cash transaction. LCL Equities acquired the multifamily community, which is located in Lower Paxton Township, a nearby suburb, from Paxton Hills Associates, a local limited partnership that had owned the property for nearly 25 years.

The Kislak Co. brokered the sale, with managing director Robert Holland representing both the buyer and the seller. Sovereign Bank provided the funding.

Called Twelve Trees Apartments, the community, which is located off Union Deposit Road, consists of three two-story buildings with 60 units and six two-story buildings with 76 townhomes. These are one-, two-, and three-bedroom units with private entrances. Other amenities in the complex include a pool, pool house, tennis court and playground.

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