Maryland-based Woodfield Investments has paid $8.94 million for a 5.23-acre parcel just outside of Philadelphia that is approved for a 205-unit apartment building. At that price, the property at 130 Monument Road in Bala Cynwyd, Pennsylvania traded for $43,416 a unit. The seller was Roseland Residential Trust, a subsidiary of Mack-Cali Co., a New Jersey real estate investment trust that has decided to focus on owning and developing residential and office properties along New Jersey’s waterfront.…
from https://www.bizjournals.com/baltimore/news/2019/12/04/maryland-firm-buys-pennsylvania-site-slated-for.html?ana=RSS&s=article_search
via https://baltimorecheckbook.tumblr.com/post/189473957787
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