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Apartment Complexes Trade for $20M

LANCASTER, PA-Quail Run and Wynnewood Greens change hands in transactions overseen by Kislak Co.'s Robert Holland.

By Brianne Harrison | Updated on September 30, 2008

LANCASTER, PA-The 136-unit Quail Run apartment complex and 206-unit Wynnewood Greens have traded hands for $7.7 million and nearly $12.08 million, respectively. Both transactions were brokered by Robert Holland, senior vice president and co-managing director of Woodbridge, NJ-based Kislak Co.

Holland represented both the buyers and the sellers in both transactions. Quail Run, selling for the third time in 25 years, was sold by the Apartment Gallery and acquired by the Solomon Organization. Holland has exclusively represented the property in all its previous sales. Wynnewood Real Estate LP picked up Wynnewood Greens from former owner Camelot Partners.

Both buyers intend to carry out improvements at the garden-style complexes. According to Holland, the Solomon Organization intends to install separate meters in the Quail Run apartments so tenants will pay their own utilities. In addition, the new owners plan to renovate the kitchens in some of the units. Information on the improvements slated for Wynnewood Greens was not available.

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