YARDLEY, PA—HFF has closed the sale of and arranged acquisition financing for Yardley Crossing, a 196-unit multi-housing community situated along the Delaware River at 1800 Kathy Drive, Yardley, PA.
HFF marketed the property exclusively on behalf of the seller, Fairfield Belmondo LLC. Relative Properties, a new venture led by principals Devin Aronstam and Paul Aschkenasy, purchased the property. HFF also worked exclusively on behalf of the buyer to secure Fannie Mae financing for the property.
Yardley Crossing is situated on 23.68 acres, approximately 35 minutes from Center City Philadelphia and 55 minutes from New York City. The asset is predominantly comprised of two- and three-bedroom townhome-style units averaging more than 1,200 square feet, and also includes 12 one-bedroom flats that are 775 square feet. Community amenities include a swimming pool, basketball courts, playground, jogging and bike trails, clubhouse and recreation room.
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