University Communities LLC purchased the 167-unit Court Apartments at 3500-3540 Powelton Ave. in Philadelphia for $22.35 million, or $133,832 per unit, from David Stern Management Corp.

The property consists of three restored Victorian-era buildings constructed in 1910 with studio and one- and two-bedroom units. It is near the University of Pennsylvania and Drexel University in West Philadelphia.

Joseph Brecher and Eli Rosen of Gebroe-Hammer Associates represented the seller and procured the buyer.

Please refer to CoStar COMPS #1528734 for more information.