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News

WP Realty closes on sale of apartment portfolio

WP Realty closed on the sales of Stonybrook Apartments, Summit Court Apartments and Villager Apartments as a portfolio sale to Resource Investments LLC on Friday, August 24, 2007. Resource Investments, LLC is an investment and management firm that specializes in the acquisition and management of rental apartment communities.

Stonybrook Apartments is a 258 unit building in Deptford, New Jersey that was acquired on July 25, 1996. Summit Court Apartments is a 28 unit building in Bala Cynwyd, Pennsylvania that was acquired on May 13, 2005. Villager Apartments is a 184 unit building in Marlton, New Jersey that was acquired on July 25, 1996.

All properties are in excellent locations and are stabilized with high occupancy rates. They have benefited from professional management and considerable capital expenditures over the years.