Riverwalk Apartments Has Been Sold

The Riverwalk apartment riverfront apartment community has changed hands. This is the second apartment property to sell in Conshohocken in the last several months. O’Neill Properties sold the piece of property at 59 Washington Street, which is approved for apartments, to Mack-Cali.

From an article on GlobeSt.com:

HFF closed the sale of and arranged joint venture equity and acquisition financing for Riverwalk at Millennium, a 375-unit class A multi-housing community in Conshohocken, PA.

HFF marketed the property on behalf of the seller, Riverwalk Realty Company, Inc.  A joint venture arranged by HFF between Scully Company and Long Wharf Real Estate Partners LLC purchased the asset. HFF also worked for the buyer to place the 10-year, floating-rate loan through Freddie Mac’s CME Program.  HFF will service the securitized loan through its Freddie Mac Program Plus® Seller/Servicer program.