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Kislak sells 286-unit apartment complex for $14.75M

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Woodbridge-based Kislak announced Monday the sale of of 286-unit Delaware apartment complex for $14.75 million.

According to the announcement, Kislak president and co-managing director Robert Holland and senior vice president Matt Weilheimer represented the parties in the transaction. Greentree Village Apartments is an all-brick, landscaped property with on-site parking situated in a residential neighborhood of Claymont, Del., a suburb of Philadelphia. It includes 88 one-bedroom apartments, 169 two-bedroom apartments and 29 three-bedroom apartments in eleven buildings.

The seller was led by an affiliate of a large international insurance company that foreclosed on the property and engaged Kislak on an exclusive basis to market and sell it. The purchaser was The Galman Group, a longtime Kislak client. Financing was provided by M&T Bank. The seller was represented by Michael Roth of Sheppard, Mullin, Richter & Hampton, LLP and the purchaser was represented by Howard Grossman, Esq. of Cozen O'Connor. At the time of closing, the property was 92 percent occupied, Kislak said in a statement.

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