The asset involved in this transaction is the Luxor Bala Cynwyd, a multifamily community located at 9 Presidential Boulevard, Bala Cynwyd, PA. The property consists of 173 units and was completed in 2021. It is classified as a Class A property and features modern studio, one-bedroom, and two-bedroom designs. The location is strategically positioned along the affluent, supply-constrained Main Line, providing strong access to employment, transit, and regional amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $37,000,000
• Lender: ACRE Capital
• Landlord: Alliance Residential Co. & PCCP
• Brokers: Patrick McGlohn, Brian Gould, Patrick Cunningham, Natalie Hershey & Hunter Wood - Berkadia
• Loan Type: Acquisition

This transaction involved a joint venture between Alliance Residential Co. and PCCP, who secured a $37 million acquisition loan from ACRE Capital to facilitate the purchase. The brokerage team from Berkadia, consisting of Patrick McGlohn, Brian Gould, Patrick Cunningham, Natalie Hershey, and Hunter Wood, played a significant role in arranging the financing for this deal.