Laub Realty Acquires Multifamily Portfolio In Forks Township, PA For $35.6M

The Sullivan Parke Apartment Complex, located at 2280, 2250, 2265, and 2295 Lafayette Park Drive in Forks Township, PA, has been sold in a recent transaction. Laub Realty has acquired the multifamily property from Ashley Development Corporation and Black Bear Asset Management.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $35,550,000
• Units: 102
• Price per Unit: $348,529

The sale price of $35,550,000 includes all four buildings within the Sullivan Parke Apartment Complex. The individual prices for each building are as follows: Building 1 - $8,400,000; Building 2 - $8,400,000; Building 3 - $8,400,000; Building 4 - $10,350,000.

The transaction was facilitated by Bryan Manz, Emil DePasquale, Brandon Harris, and George Pektor from Black Bear Capital Partners, who represented both the buyer, Laub Realty, and the sellers, Ashley Development Corporation and Black Bear Asset Management.