Tryko Partners Purchases MF, Skilled Nursing

PHILADELPHIA-Brick, NJ-based Tryko Partners, LLC is purchasing Kearsley Campus for $8 million. The 13-acre campus is home to three properties, two rental properties and one skilled nursing facility, all at 2100 N. 49^th St. The seller was an unnamed not-for-profit entity associated with New Cortlandt.

The properties are unique, combining regular multifamily with an affordable housing component and a skilled nursing property. Kearsley Apartments and Kearsley Square are both age-restricted rentals, while Kearsley Long Term Care is the nursing facility. Kearsley Apartments is the HUD affordable housing piece, consisting of 87 studio and single-bedroom units. Kearsley Square holds 60 market-rate units and has in-home services from UPenn LIFE program at the University of Pennsylvania School of Nursing. Kearsley Square is the tax credit portion of the property.