Apartment complex in King of Prussia’s The Village at Valley Forge trades for $75M

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King of Prussia’s Village at Valley Forge from Realen Properties has been named Philadelphia Business Journal’s Project of the Year.

According to Montgomery County property records, Hanover Valley Forge, one of the first apartment complexes built in The Village at Valley Forge has traded for $75 million.

A sale recorded in September with Montgomery County shows that MetLife Real Estate Investors shelled out $75.33 million for the 339 units. This is the first multifamily sale in the Village at Valley Forge and demonstrates the price point for such premium properties, writes Natalie Kostelni in the Philadelphia Business Journal.

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The apartment complex, Hanover Valley Forge at 300 Village Drive,  was built in 2017.  The complex joined the lineup of other multifamily projects that included Indigo 301, Canvas, Ave and the Brownstones — which Toll Brothers Inc is building.

The King of Prussia Town Center, the retail component in the Village at Valley Forge, sold in May 2017 for $183 million, or $700 a square-foot. The center totals 263,423 square feet.

To read the complete story, click here.

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