A company paid $50 million recently for five properties in Harrisburg, according to the The Kislak Company, a real estate company that arranged the sale.
King Street Commons purchased five apartment complexes – River Plaza, Riverfront Park, Bellevue Towers, Magnolia Gardens and Magnolia Hills from The Loketch Group on July 10.
The purchase includes 825 residential units, eight commercial spaces and four cell phone towers.
- River Plaza has 269 units and two commercial spaces and is located at 2311 North Front St.
- Riverfront Park has 216 units and is located at 2600 Green St.
- Bellevue Towers has 118 units and six commercial spaces and is located at 2400 Market St.
- Magnolia Gardens has 114 units and is located at 210 Hale Ave.
- And Magnolia Hills has 108 units and is located at 35 Thomas St.
The commercial spaces are on the ground floor of the two buildings.
Robert Holland and Matt Wolf of The Kislak Company based in New Jersey arranged the sale on behalf of the sellers, affiliates of The Loketch Group based in Brooklyn, New York led by principals Moishe and Pinny Loketch. Holland and Wolf also procured the buyer, affiliates of King Street Commons which is based in the Pottstown area and led by principals Raj Baldev Sharma and Pankaj Sharma. Holland previously arranged the sale of four of the properties once and three of the properties twice.
The Kislak company also handled a $12.8 million transaction earlier this year for 68 townhomes when it arranged for the sale of the Crooked Hill Townhomes on Vesta Lane in Susquehanna Township. It was one of the top 12 real estate transactions in Dauphin County in the first six months of the year.
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