(Read more on the multifamily market.)
DREXEL HILL, PA-Eagle Garden Associates has put Tall Trees Village, a 180-unit rental complex at 4410 Township Line Rd., up for sale. The asking price is $10.8 million, which represents $60,000 a unit.
Eagle Garden is a locally based partnership consisting of several families, and it has owned the asset for 25 years. In the process of estate planning, the younger members of the partnership want to dispose of this property in order to reallocate funds for expansion of the partnership's portfolio, according to Mark Wolff, a senior associate in the Philadelphia office of Marcus & Millichap. Wolff is marketing the property.
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