BENSALEM, PA—Primavera Properties, a private developer in Sharon Hill, PA, acquired Cornwells Station Apartments, a 119-unit apartment complex in Bensalem, Bucks County, PA, from the complex's private owners for $8.55 million, in a transaction brokered by The Kislak Co. Jason Pucci, chief operating officer of Kislak, confirmed the transaction pricing to GlobeSt.com. Real Capital Analytics, a proprietary commercial real estate research organization, identified the buyer.
Kislak marketed the property on an exclusive limited basis. Sales associate Justin Lupo represented the seller and vice presidents Barry Waisbrod and Matt Weilheimer represented the purchaser.
Cornwells Station Apartments was built in 1968 and, before Kislak's engagement, had never been on the market. The property offers one-bedroom and two-bedroom units, all with spacious floor plans, eat-in kitchens, and large walk-in closets. Before the sale, select units were upgraded with new kitchens and bathrooms.
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