Rosewood Realty Group closes $39 million sale of PA multifamily development
Marietta, PA Rosewood Realty Group completed the sale of a newly constructed 172-unit multifamily development for $39 million.
The buyer, Goldcrest Properties, is a Lakewood, NJ-based commercial real estate firm that purchases and manages multifamily assets. The three-story garden apartment property at 421 W Market St. was built in 2020. The 175,000 s/f development features a clubhouse, fitness center and laundry facilities.
Rosewood Realty Group's founder Aaron Jungreis and Michelle Jungreis represented the buyer, Hillel Hertz of Goldcrest Properties and the seller, Jeff Inch of Inch & Co.
“We have successfully closed over two billion in sales this year and we are poised for a strong 2022 as the sales market continues to heat up locally and nationally," said Jungreis. “The rental market still has growth potential and identifying hidden gems is one of our strengths.”
This sale represents the 50th closed transaction this year for Rosewood, the NYC-based commercial real estate investment sales firm that is continuing to close deals in the city and throughout the country in Pennsylvania, Texas, Florida, North Carolina, Georgia and other states.