Universe Holdings Acquires Multifamily Asset From Fernmoor Homes For $33.6 Million In Mount Holly

The transaction involved a multifamily property located at Barrington Ct, Joseph Place & 1 Foundry Boulevard in Mount Holly, comprising 108 units. The sale price was $33,600,000, which breaks down to a price per unit of $311,111. The property has a total square footage of 108,240, translating to a price per square foot of $310.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $33,600,000
• Units: 108
• PPU: $311,111
• SF: 108,240
• PPSF: $310
• Buyer: Universe Holdings
• Seller: Fernmoor Homes
• Seller's Representative: Chez Eider, Andrew Townsend, Clarke Talone & Daniel Bernard - Marcus & Millichap
• Buyer's Representative: Barry Waisbrod - Kislak

This transaction was marked by a competitive bidding process that drew 251 confidentiality agreements and offers from a wide range of buyers, including institutions and private equity groups. The Eider Group and the Maclaren, Townsend & Talone Group at Marcus & Millichap handled the exclusive listing, ensuring broad market engagement and maximizing the outcome for the seller.