Multi-Housing Portfolio for Sale in Philadelphia’s Chestnut Hill Area

Tuesday, March 13, 2018

Update: HFF announced the sale of this property along with the financing HFF arranged in August 2018. To search for current real estate investment listings, please click here.

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is presenting the opportunity for a qualified investor to acquire Chestnut Hill Village and Blossom Row, a transit-oriented, value-add, multi-housing portfolio totaling 821 units in the prestigious Chestnut Hill submarket in Philadelphia, Pennsylvania.  Chestnut Hill Village and Blossom Row, which were bifurcated in 2017, represent institutionally owned and maintained value-add properties in the heart of one the most affluent and historic neighborhoods in the state.

The properties are situated on 45 residential acres broken into three distinct apartment communities. Chestnut Hill Village, built in 1965, contains 564 units spread across 14 three-story elevator buildings. The Manor at Chestnut Hill Village, which is a subsection of the Chestnut Hill Village property, was built in 1971 and contains 140 private-entry apartments spread across nine two-story buildings. Lastly, Blossom Row is a unique townhome community featuring 117 private-entry two-story townhomes, which include fenced-in backyards and finished basements. The properties have access to best-in-class amenities, which are highlighted by a community pool and a recently constructed standalone clubhouse housing a contemporary fitness center. The three communities are strategically situated abutting SEPTA’s Wyndmoor regional rail station and surround Market Square, an ACME-grocery-anchored retail center that is also home to Rite-Aid, Wells Fargo, UPS, Subway and more. 

Value-Add Apartment Portfolio for Sale Investment Highlights

  • Affluent and Historic Chestnut Hill Location:  Located in the northwestern corner of Philadelphia, Chestnut Hill ranks as the third wealthiest urban neighborhood in the state and 45th in the country, based on an average household income of $134,059. Chestnut Hill offers an incomparable blend of trendy boutique shopping, gourmet dining, world-renowned golf courses and sought-after private schools, all while being located 20 minutes from Center City Philadelphia. Additionally, due to its beautiful green landscapes, lush gardens, public parks and renowned architecture, Chestnut Hill has earned the distinct designation of “Philadelphia’s Garden District” and was ranked as one of the top seven “Urban Enclaves” in the country by
  • Compelling Value-Add Opportunity:  Current ownership has infused significant capital into the properties over the last decade, replacing all roofs, windows, boilers, elevators and more, which affords new ownership the opportunity to focus capital on direct revenue enhancing expenditures such as unit renovations and amenity enhancements.
  • Transit-Oriented Community Adjacent to Grocery-Anchored Retail Center:  Surrounded on three sides by the portfolio is Market Square, an ACME-anchored neighborhood shopping center with national and regional retailers, including a Rite-Aid, Subway, UPS, and Wells Fargo Bank. Additionally, SEPTA’s Wyndmoor Station is across the street from The Manor at Chestnut Hill Village.

The portfolio can be sold as a portfolio or individually. For more information on this commercial real estate listing or other multifamily properties for sale in and around Philadelphia, please contact Mark Thomson, Jose Cruz, Carl Fiebig, Francis Coyne or Ryan Ade in HFF’s Philadelphia and New Jersey offices. To view HFF’s current real estate investment sales listings, please click here.

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