Merion Champions Walk, L.P. acquired Champions Walk Apartments in Bradenton, Florida for $58 million, or $154,255 per unit. The community was constructed in 1997, is in good physical condition, is very well located and has a solid resident base. Merion’s business plan focuses on improving the physical asset with a remodel of the clubhouse, leasing center, pool area and amenity package. Merion will also institute a unit interior upgrade program to better compete with newer communities in the Bradenton and Sarasota markets.
Acquires The Ledges
Merion acquired The Ledges, a 339 unit, Class-A, garden style multifamily unit apartment community in Groton, Connecticut. The property was purchased for $60 million, or $177,000 per unit. The community was constructed in 2003 and is in good physical condition....
