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.
Acquires Champions Walk
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...
