Equus sells Montgomery County apartment complex to South Jersey firm for $62.5M
Friedman Realty Group of Gibbsboro, N.J., has acquired the 308-unit property.
Camden County-based Friedman Realty Group has acquired the Madison Willowyck apartment complex outside Lansdale in Montgomery County.
Friedman, of Gibbsboro, N.J., paid $62.5 million for the 308-unit property off Sumneytown Pike near Route 363 in Upper Gwynedd Township, seller Equus Capital Partners Ltd. said in a release this week.
At the time of the sale, Madison Willowyck was 96 percent occupied, according to Yardley-based Equus, which acquired the property in 2007 from a division of Swiss financial firm UBS AG.