Update: This property is no longer available. For a list of current commercial real estate investment opportunities, please click here.
Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has been named to market for sale 3601 Market, a newly constructed, 363-unit, Class A luxury apartment tower in Philadelphia’s University City submarket.
HFF is marketing the property exclusively on behalf of the seller, a joint venture between Southern Land Company and Redwood Capital Investments, LLC.
3601 Market’s University City location places it near numerous major employers and universities, including the University of Pennsylvania, Drexel University, University City Science Center, Children’s Hospital of Philadelphia and Comcast Corporation. Due to its centralized location, the 28-story property has been awarded a Walk Score® of 94, Bike Score™ of 97 and Transit Score® of 99. 3601 Market was completed in 2016 and contains 363 units averaging 730 square feet in a variety of configurations ranging from studios to two-bedroom units. Each apartment offers open living space with high-end fixtures and finishes, stainless steel appliances, quartz countertops, glass tile backsplashes, exposed concrete ceilings, hardwood floors, in-unit washers and dryers, and panoramic skyline views. Community amenities include a heated saltwater pool and a 3,500-square-foot pool deck; outdoor community space with fire pits, gas grills, cabanas and flat screen TVs; state-of-the-art fitness center with dedicated yoga studio; community lounge with billiards; doorman; and 13,275 square feet of on-site retail.
For more information about this property or other multi-housing properties for sale, please contact senior managing directors Mark Thomson and Jose Cruz, managing director Jeff Julien and associate director Carl Fiebig. For a comprehensive listing of commercial real estate investment sales opportunities that HFF is marketing, please click here.
Southern Land Company builds quality communities that enhance the lives of residents and tenants across the United States. With a comprehensive set of services that span the entire development cycle, Southern Land delivers distinctive settings where people want to live, work and shop. By upholding stringent standards for single-family, multifamily and mixed-use developments, the company creates projects with long-term viability that investors, residents, employees and partners can rely on. Founded in 1986, Southern Land is headquartered in Franklin, Tennessee, and develops properties in several key U.S. markets. southernland.com.
Redwood Capital Investments, LLC is the private investment company for the founders of Allegis Group, the largest privately held staffing company in the United States. The company’s primary objective is to invest with founders and management teams in privately held businesses. In addition to its investments in private businesses, the company invests in real estate, infrastructure and marketable securities on an opportunistic basis.