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HFF closes sale of housing complex in Philadelphia

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Florham Park-based HFF announced Wednesday that it has closed the sale of Edgewater Apartments, a 290-unit, Class A multihousing complex in Center City, Philadelphia.

According to the announcement, it is the largest multifamily transaction to close in Philadelphia in more than 10 years. Also included in the sale is another development site that has been approved for approximately 240 more apartments.

The property consists of a 12-story tower with 270 units and 20 townhomes attached to a five-story, 491-space parking garage. 

HFF senior managing directors Jose Cruz and Andrew Scandalios, managing directors Kevin O'Hearn and Jeffrey Julien, and associate director Steve Simonelli represented the seller, the announcement said.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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