FAIRLESS HILLS, PA—Hidden Forest Apartments, 602 Hidden Forest Ct., Fairless Hills, PA, was been sold to a private Investor by TGM Associates for $21,300,000, or $89,496 per unit.
Robert Miller, John McFadden, and Matt Stefanski of CBRE's Multifamily Division in Wayne, PA, represented the seller.
“This property attracted strong interest from New York investors because of its ideal location near I-95 and the Pennsylvania Turnpike in Bucks County. Investors saw strong rental upside, as the property enjoyed 98% occupancy,” says Miller. “Fully renovated more than ten years ago, the property was much younger than its 1967 construction date. Furthermore, the property was in excellent condition as it was institutionally managed by TGM.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
