NEW JERSEY—A private investor has paid $13.5 million to acquire Glen Brook Apartments, a 174-unit apartment complex located in Glenolden, Pa. The Kislak Co. Inc., based in Woodbridge, N.J., coordinated the sale on behalf of the seller, a publicly traded REIT. Kislak’s Andrew Jonas, VP, Barry Waisbrod, VP, Matt Weilheimer, VP, and President Robert Holland worked on an exclusive basis to sell the property.
Constructed in 1964, Glen Brook Apartments includes 174 units in 14 three-story brick buildings. Located in the Philadelphia suburb of Glenolden, the complex is in close proximity to an elementary school and is currently 95 percent occupied.
Financing was provided by Spencer Savings Bank.