Lubert-Adler has partnered with Candlebrook Properties to purchase the apartment complex, located in the heart of King of Prussia, PA, for about $70 million. The partners plan to spend $50 million in renovations.
The partnership will create a high-end apartment complex where young professionals who work in the King of Prussia area can live, while also providing a home for young couples and families.
The complex will include an indoor and outdoor pool, two gyms, tennis courts and basketball facilities, and a 1,000-square-foot children's play space.