$96.5M sale and financing of multihousing community in the Philadelphia area closes

JLL Capital Markets closed the sale and financing of the 352-unit, value-add Valleybrook at Chadds Ford

Valleybrook at Chadds Ford
JLL closed the $96.5 million sale and acquisition financing of Valleybrook at Chadds Ford, a 352-unit multihousing community in Chadds Ford, Pennsylvania.

JLL Capital Markets announced that it closed the $96.5 million sale and acquisition financing of Valleybrook at Chadds Ford, a 352-unit, value-add multihousing community in Chadds Ford, Delaware County, Pennsylvania.

JLL marketed the property on behalf of the seller, a real estate fund advised by Crow Holdings Capital. FPA Multifamily acquired the asset.

Constructed in 2002, Valleybrook at Chadds offers 144 one-bedroom, 166 two-bedroom and 42 three-bedroom units, averaging 992 square feet. Units feature nine-foot ceilings, patios or balconies, full-size washers and dryers, along with granite/quartz countertops and stainless steel appliances in renovated units. Community amenities include a newly renovated two-story clubhouse, equipped with a business center, yoga studio, state-of-the-art fitness center and wi-fi lounge. The property also features an extensive outdoor amenity package highlighted by a resort-style swimming pool, grilling stations and on-site parking garages.

Valleybrook at Chadds Ford is strategically located in affluent Chadds Ford, along the heavily traveled Route 202. The community benefits from its proximity to several retail destinations, including the Concord Mall, Brandywine Town Center and the Whole Foods-anchored Glen Eagle Square. Furthermore, the property is located in the Garnet Valley School District, which ranks in the 98th percentile in the state of Pennsylvania. Valleybrook at Chadds Ford is located just a short drive to many of the region’s top employers, and 20 minutes from Philadelphia and Wilmington, Delaware.

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Managing Directors Mark Thomson and Carl Fiebig, Senior Director Francis Coyne and Director Tyler Margraf.

“Valleybrook at Chadds Ford is the quintessential, value-add opportunity positioned in an A+ submarket highlighted by the $167,000 average household income in a one-mile radius,” said Fiebig.

“We are grateful to bring this asset full circle for Crow Holdings Capital, having sold and financed the acquisition in 2018. Crow Holdings Capital seamlessly executed their business plan, allowing subsequent ownership to acquire an asset with a proven renovation program,” said Thomson.

Coyne added, “While the marketing process yielded a significant amount of interest from a wide variety of capital sources, we were pleased to be able to work with repeat clients on both the buy and sell side, who performed exceptionally.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.