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Galman Group buys two Phila. apartment complexes
The Galman Group of Philadelphia has purchased Red Lion Manor Apartments at 10101 Northeast Ave., and Cheswick Square Apartments at 7949 Ridge Ave., both in Philadelphia, for $16.1 million from AIG Global Investment Group of New York.
The Galman Group of Philadelphia has purchased Red Lion Manor Apartments at 10101 Northeast Ave., and Cheswick Square Apartments at 7949 Ridge Ave., both in Philadelphia, for $16.1 million from AIG Global Investment Group of New York.
HFF of Florham Park, N.J., negotiated the sale. Red Lion has 120 units and Cheswick 111. They are 94 percent leased, HFF said.
The Galman Group owns and manages 6,000 apartments and condos in the Philadelphia region.
- Alan J. Heavens