The Kislak Co. on Wednesday announced it recently sold Stonecreek Court Apartments, a 60-unit apartment complex in Ephrata, Lancaster County, Pennsylvania, for $11.7 million to an undisclosed buyer.
Woodbridge-based Kislak marketed the property on an exclusive basis, with Senior Vice President Matt Wolf handling the assignment. He also procured the purchaser.
Wolf commented: “This was a trophy asset built in 2008 and sold by the original developer. We received 12 aggressive offers and ultimately closed with a longstanding client that has a number of other properties in the area.”
The property consists of five, two-story buildings with a total of 60 stabilized, luxury residential units with parking situated on 6.22 acres. The unit mix includes 10 one-bedroom apartments, 20 two-bedroom apartments and 10 three-bedroom apartments. Units feature high-end finishes, center kitchen islands, gas fireplaces and vaulted ceilings with outdoor access via patio or balcony.
The property is located in a quiet neighborhood in the highly rated Ephrata School District. It is ideally located close to Lancaster City, Berks and Lebanon Counties, with the Pennsylvania Turnpike just minutes away for an easy commute.
