Multifamily Loft Portfolio - 247 Units 8 biens | À vendre | 55 133 649 € | Philadelphia, PA

Global Real Estate Advisors (GREA) is pleased to present the unique opportunity to acquire the fee simple interest in GM Holdings Portfolio, a 247-unit portfolio located in the Harrowgate neighborhood of Philadelphia, comprising 186 apartment units, 59 flex units, and 2 commercial units across 8 properties. Offered as a loan assumption through Trimont, this opportunity allows investors to step into stabilized cash flow while benefiting from assumable financing in an increasingly volatile capital markets environment. The loan, originated at a 7.055% interest rate on March 31, 2024, features a full-term interest-only maturity on April 1, 2030 (existing balance of $46,000,000 with an interest-only debt service of $3,245,300).
The Portfolio consists of adaptive reuse projects that have been thoughtfully redeveloped into large, loft-style apartments with exposed brick, high ceilings, and oversized windows. The properties feature new construction elements (roof, plumbing, electrical), gated communities, keyless entry to buildings and units, camera systems, gated off-street parking, roof decks (select properties), and fitness centers or gyms (at ±90% of the Properties). The average unit size is 763 square feet, while many of the competitive set feature smaller units. Rents across the Portfolio are attractive relative to newer Class A product while offering modern finishes and architectural character.
Current ownership has captured operational efficiencies given the economies of scale and minimal amount of deferred maintenance. The Properties have achieved strong lease-up rents, sitting at 94% occupied, creating stabilized cash flow. Still, upside remains through continued lease-up of units, utility reimbursement opportunities (meters in place), and renewals.
This offering presents a rare combination of scale, character, in-place cash flow, and historic preservation in one of Philadelphia’s most active transition corridors. It is an opportunity for both cash-on-cash-driven buyers seeking stabilized performance and mission-driven capital seeking to preserve housing stock in a high-barrier, gentrifying submarket.