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Investors Trade 312-Unit Dover Multifamily Portfolio

January 30, 2018
Dover Investors LP sold two apartment buildings at 51 and 255 Webbs Ln. in Dover, DE for $20 million, or approximately $64,000 per unit.

The deal totals 312 units across 282,453 square feet. The Alder Park Apartments was built in 1963 and is approximately 159,000 square feet with 215 units. The Pine Grove Apartments was built in 1972 and is approximately 123,453 square feet with 96 units.

Carl Fiebig, Mark Thomson and Fran Coyne of HFF represented the seller. The buyer handled the sale in-house.

Please see CoStar COMPS #4120782 for additional information on this transaction.
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