308-Unit Apartment Complex In Upper Gwynedd Sold For $62 Million

UPPER GWYNEDD, PA — New owners are taking over at one of Upper Gwynedd's significant apartment complexes.

The 308-unit Madison Willowyck in Upper Gwynedd has been sold by its owners, Equus Capital Partners, for $62.5 million. The new buyers on New Jersey-based Friedman Realty Group.

“Investor demand was strong for this well-maintained community that offers residents exceptionally spacious and diverse floorplans,” Pete Naccarato, who was responsible for overseeing the disposition for Equus, said in a statement. “We received over twenty written offers for this unique and enduring asset.”

Friedman has not said exactly what will change under their ownership, but they did comment on Tuesday that "many exciting renovations are currently underway."

Willowyck is located just down the street from Merck's west campus and has an address of One Marlbrook Lane (Lansdale).

Image via Equus