High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, has sold Matson Mill, a 280-unit apartment community that was delivered in 2022.
HSR developed the property in partnership with MetLife Investment Management and sold it to an undisclosed buyer. CBRE marketed the property on behalf of HSR. The property is approximately 95% percent leased.
“The successful stabilization and sale of this Class A multifamily asset is a testament to the quality and design of the property, in addition to its sought-after location and the overall demand for this type of product in the Philadelphia suburbs,” said Michael Adamo of HSR. “We are pleased to have had a successful development cycle with Matson Mill and are actively pursuing the next opportunity to bring world-class housing to the Philadelphia area.”
Matson Mill includes a robust collection of amenities, including a resort-style club room with an entertainment kitchen; a game room; a conference/private lounge area; a state-of-the-art fitness center; a quiet lounge; a large package and mail room; a dog wash station; on-site bike storage; and an entry lobby/train waiting area. Residents also have access to outdoor courtyards that have views of the river and include a resort-style pool, an outdoor kitchen and outdoor seating areas with fire pits.
Matson Mill is directly adjacent to the SEPTA Regional Rail station, which can transport residents to Center City Philadelphia in 30 minutes.
High Street Residential, the residential subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. We have a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. In the last 15 years, the firm has completed over $4 billion with a current pipeline of nearly 6,500 units.
