BENSALEM, PA—Wessex First Avenue Associates has acquired Regency Apartments, a 253-unit, garden-style multi-housing community in Bensalem, PA, from owner SAS Regency for $19.75 million.
Holliday Fenoglio Fowler brokered the sale and arranged acquisition financing. Mark Thomson and Carl Fiebig led the HFF investment sales team, and James Conley led its debt placement team.
"Regency Apartments provided the opportunity to purchase and renovate a sizeable multi-housing property in a dense, Buck's County location," says Thomson. "Our team was able to procure more than 40 property tours and 21 offers, providing flexibility for our client. The activity alludes to the demand for well-located, value-add product in the Philadelphia suburbs,"
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