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DEAL OF THE DAY: GPX Completes $3.6M Capital Improvement Plan for Stillwell Apartment Portfolio
Published: July 23, 2008
By Anuradha Kher, Online News Editor
Haverford, Pa.--GPX Realty Partners L.P. recently completed a $3.6 million capital improvement program across its Stillwell Apartment portfolio. The portfolio consists of five communities totaling 309 units across 20 buildings and is located in Montgomery and Delaware counties, Pa. GPX Realty Partners acquired the portfolio last June.
The capital improvements made throughout the five developments include upgraded unit interiors, from new windows to new kitchens; refreshed building exteriors; new community signage; extensive landscaping; new roofing systems; parking lot and driveway repairs; and electrical and lighting work.
"The multi-million dollar investment we've made to upgrade and modernize these properties has helped position them as some of the most premiere apartment communities in the Delaware Valley," says Thomas J. Gravina, executive chairman and co-founder of GPX Realty Partners. "Our top priority is tenant satisfaction, and we know these improvements will be enjoyed by all current and future residents for many years to come."
The Stillwell Apartment portfolio is comprised of Concord Court in Aston, Pa.; Livingstone, Oak Terrace and Wellington in Hatboro, Pa. and Longford in Ambler, Pa.
The $3.6 million capital investment program at the Stillwell Apartment portfolio is part of more than $120 million total that GPX Realty has invested in Delaware Valley commercial real estate over the past 18 months.
