The Goldenberg Group of Blue Bell has become the sole owner of Center City’s 1213 Walnut apartment tower after buying out its partners on the project, Hines of Texas and Washington, D.C.-based ASB Real Estate Investments.
Goldenberg paid $136.5 million for what was effectively a 90% stake in the 26-story, 322-unit high-rise, Lawrence J. Arem, an attorney with Klehr Harrison Harvey Branzburg LLP who worked on the transaction, said Thursday. That would value the property at $151.7 million.
Goldenberg chief operating officer Seth Shapiro declined to discuss the transaction ahead of a formal announcement.
Goldenberg, Hines, and ASB completed the tower in 2017 on what had been vacant land surrounding Fergie’s Pub on Sansom Street.