Sentinel Real Estate Corporation acquires a residential complex of 188 units in desired suburb of Philadelphia

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NEW YORK–() – Sentinel Real Estate Corporation (“The Guardian”) announced today the acquisition of Hill House Apartments, an 188-unit apartment building in Chestnut Hill, a coveted suburb of Philadelphia. As one of the very few residential developments in Chestnut Hill, Hill House Apartments offers luxury tenement accommodation in a highly sought after area where rents represent significant value when compared to downtown Philadelphia.

“At Hill House Apartments, we are acquiring a well repositioned asset where we can leverage strategic capital improvements to create added value,” said Michael Streiker, President of Sentinel. “The high barriers to entry to the area make construction difficult – interestingly, only 700 housing units have been commissioned within a three-mile radius of the property since 1991. Since no new deliveries to the market are planned for the foreseeable future, the average household income We expect that there are many factors that will make this property and its location attractive. ”

Located in the heart of the historic Chestnut Hill district, which is known as the garden district of Philadelphia and has been named by Forbes as one of the top seven urban enclaves in the United States, Hill House offers rich living amenities with city skyline views. Floor plans ranging from studios to three-room, three-room apartments. Each room has luxury finishes such as quartz countertops, stainless steel appliances, parquet floors and spacious toilets. Utilities include a 24-hour doorman, fitness center, resort-style pool, outdoor patio living area and lounge area with complimentary Starbucks on tap.

The previous owners completed an extensive renovation program that included upgrades to the indoor units and building systems, as well as improvements to common areas including the lobby, rental office, common corridors, outdoor amenities and landscaping. The Sentinel has the ability to add value by upgrading the remaining indoor units over time.

Over its 51-year history, Sentinel has acquired a national portfolio of multi-family properties on behalf of local and international organizations. The firm will continue to use its market experience and close industry links to identify attractive investment opportunities throughout the region.

About Sentinel Real Estate Corporation

Founded in 1969, Sentinel Real Estate Corporation is an independent real estate investment management firm based in New York City. The company currently manages $ 7.8 billion in institutional quality properties on behalf of more than 100 domestic and international clients. Sentinel has offices in the USA, Amsterdam, Germany, Australia and Singapore. The company currently has a portfolio of over 26,000 apartments and 5.5 million square feet of commercial real estate. Sentinel operates on a vertically integrated platform with 750 employees to handle all stages of the investment process, including on-site property management. For more information on Sentinel visit www.sentinelcorp.com

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