PHILADELPHIA, PA - CBRE today announced the sale of a Class A portfolio of six multifamily properties located in Philadelphia’s Fairmount and Brewerytown neighborhoods. Treeco Companies acquired the residential portfolio from Stamm Development Group (SDG) for $28 million.
Samantha Kupersmith and Spencer Yablon of CBRE spearheaded the marketing campaign for the properties and represented SDG in the negotiations.
“One of Philadelphia’s leading private real estate development firms, SDG builds impeccable residential properties that warrant a very high price per unit,” noted Ms. Kupersmith. “As a result, we were able to market the portfolio in its entirety and arrange the sale to a single buyer. We are extremely pleased with the result that met the high expectations of our client."
“We are extremely pleased with the end result of this transaction with Treeco. CBRE did an excellent job of locating qualified buyers, and making this transaction seamless from the start. We look forward to working with both parties on future transactions,” stated Michael Stamm, SDG’s President and CEO.
Comprised of 78 finely appointed residential units, the Class A multifamily portfolio in Fairmount and Brewerytown includes The Fairmount Flats at 745-751 North 20th Street, 726 North 19th Street, 711 North 16th Street, 714 North 19th Street, The Fairmount Greenery at 817 North 20th Street, and The Porter at 2940 West Thompson Street.