Five Beaver Canyon apartment buildings sold for over $100 million – The Daily Collegian Online

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Five apartment properties — referred to as Beaver Canyon — sold for $102 million on Oct. 18, according to a report by the Centre County Gazette.
According to documents from the Centre County Recorder of Deeds Office obtained by the Centre County Gazette, the properties sold are as follows:
Alexander Court, located at 309 E. Beaver Ave. — built in 1983
Beaver Hill, located at 340 E. Beaver Ave. — built in 1972
Cedarbrook, located at 320 E. Beaver Ave. — built in 1972
Garner Court, located at 228 S. Garner St. — built in 1973
The Diplomat, located at 329 E. Beaver Ave. — built in 1997
The first four properties were sold by A.W. Sons Enterprise, LP — the company that managed all five properties — to Core State College Beaver, LLC for a cash consideration of $94 million.
The Diplomat was sold by Helex Enterprises to Core State College Beaver, LLC for a cash consideration of $8 million.
Core State College Beaver, LLC has the same address as Core Spaces, a Chicago-based company “focused on acquiring, developing, and managing the best real estate in educational markets,” according to its website.
Some of its buildings are Leadership in Energy and Environmental Design (LEED) certified. Its properties appear similar to some newer apartment buildings in State College, such as the Rise and the Edge.
“Over the next couple of years, we plan on refreshing many aspects of the buildings and modernizing the apartments,” Core Spaces Vice President of Marketing Dominick Luciano told the Gazette.
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