2-93 Stonecreek Court in Ephrata, Pennsylvania — Courtesy: The Kislak Co. Inc.
By Joshua Burd
The developer of a 60-unit luxury apartment complex in Pennsylvania’s Lancaster County has sold the property for $11.7 million, in a deal arranged by The Kislak Co. Inc.
Matt Wolf, a senior vice president with the Woodbridge-based brokerage firm, represented the private seller in the transaction at 2-93 Stonecreek Court in Ephrata, the site of what’s known as Stonecreek Court Apartments. He noted that the property consists of five two-story buildings sitting on 6.22 acres, with a stabilized mix of one-, two- and three-bedroom rentals.
The apartments have high-end finishes and other appointments, along with outdoor access via a patio or balcony. Residents, meantime, are close to Lancaster City, Berks and Lebanon counties and the Pennsylvania Turnpike.
“This was a trophy asset built in 2008 and sold by the original developer,” said Wolf, who also procured the buyer. “We received 12 aggressive offers and ultimately closed with a longstanding client that has a number of other properties in the area.”
