RW Capital has sold the Ridge Plaza shopping center in Royersford to four buyers in separate transactions for nearly 60 percent more than it paid for it, writes Paul Schwedelson for the Philadelphia Business Journal.

The real estate investment firm bought the plaza in 2015 for $7.9 million with plans to hold onto it for a decade.

Falling just short of the decade mark, RW Capital sold the plaza for a combined $12.5 million.

“It was great for us and our investors,” said Robert Whalen Jr., RW Capital Partners managing partner. “We raised $2.5 million of equity and we turned that to investors with a nice return and they’re very pleased. It’s exactly how these investments are supposed to work.”

A local family in the lighting business bought the 25,985-square-foot retail strip for $5.8 million, a New York family bought the 5,773-square-foot Wawa property for $3.5 million, Phoenixville Federal Bank bought its pad site for $2.4 million, and El Limon bought its restaurant property for $800,000.

RW Capital sold the strip center first, which allowed the firm to pay off its mortgage, then Phoenixville Federal Bank and El Limon tenants bought their buildings. Wawa was the last to trade.

Read more about the sale of Ridge Plaza at the Philadelphia Business Journal. 

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