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Abacus Capital Brings 352 Luxury Units to Market

MONROEVILLE, PA-HFF expects that it could get about $75,000 per unit for Abacus' Eagle Ridge Apartments.

By Ian Ritter | Updated on July 14, 2010

MONROEVILLE, PA-Holiday Fegnolio Fowler is marketing a 352-unit apartment building here in this suburb about 15 miles east of Pittsburgh. Abacus Capital is the owner of the asset, called Eagle Ridge Apartments, and Mark Popovich, a managing director at HFF, says it should be able to command $75,000 per unit.

Built in 1989, Abacus made several improvements to Eagle Ridge after it acquired the property in 2007. Rents were increased 15%, to $887 per unit, since its purchase of the asset, Popovich says.

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