Acquires Collings at Lumberyard

Collings at Lumberyard, is a 104 unit luxury apartment building located in downtown Collingswood, NJ.  A walkable, and transit-oriented suburban town, Collingswood provides an easy commute to Philadelphia via public transportation.  The PATCO Speedline is a ten minute walk from Collings at Lumberyard and provides residents with quick access to all the amenities and employment opportunities in Center City Philadelphia.  The property includes a 1,500 plus square foot retail space currently occupied by a successful local brewery.  Built in 2013, the property is in good physical condition and has a solid resident base.  Merion plans to make interior upgrades, including LED lighting retrofit and updates to unit finishes.  Additionally, exterior improvements will be made and a revenue management system will be put in place to maximize rental premiums from these upgrades.

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