Korman AVE Apartments
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Blue Bell, PA

Residential - Apartments

Due Diligence


    RPL provided due diligence and development oversight services on behalf of an institutional equity partner.

    Unique Approach

    • Partner owns and operates similar projects in and around Philadelphia
    • Site redeveloped from warehouse/office use
    • Some project delays because of weather and Covid-19 issues


    • Achieved Substantial Completion
    • Leasing well

    Scope of Work

    High-end short-term furnished and market-rate unfurnished apartment project in affluent Philadelphia suburb, including extensive amenity areas and garage parking.

    Project Summary

    • Client: One of the largest institutional private equity investment firms
    • Location: Blue Bell, PA
    • Size: 270 units, 4 floors, 281,852 RSF
    • Timeline: 2017 to 2020
    • Services: Due Diligence
    • Cost: $86 million
    • Architect: Bernardon Architecture
    • Contractor: Bozzuto Construction Company
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