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GPX Realty Partners Completes $3.6 Million Capital Improvement Program to Upgrade Stillwell Apartment Portfolio
July 21, 2008
Haverford, Pa. – July 21, 2008 – GPX Realty Partners, L.P. (“GPX Realty Partners”) today announced the completion of a $3.6 million capital improvement program across its Stillwell Apartment portfolio. The portfolio consists of five complexes 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 complexes 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,” said 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 in Hatboro, PA; Longford in Ambler, PA; Oak Terrace in Hatboro, PA; and Wellington in Hatboro, 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.
About GPX Realty Partners, L.P.
GPX Realty Partners, L.P. is a private real estate investment and advisory firm, focused on the sponsorship, development and management of a diversified portfolio of real estate investments.
Learn more about GPX Realty Partners at www.gpxrealty.com or contact Joseph Conwell, Managing Director, at (215) 259-2500.
Press Contact:
Kathleen Rodriguez
Associate Vice President
Gregory FCA
(610) 642-8253, ext. 174
Company Contact:
Joseph S. Conwell
Managing Director
GPX Realty Partners, L.P.
(215) 259-2500
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