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LA-based Blatteis & Schnur has expanded its footprint in Philadelphia with the purchase of 1510 Chestnut St, a 34-unit apartment building, from Pearl Properties.
The 34-unit building, which stands 11 stories tall with a Foot Locker on the ground floor, is the third Philly property in Blatteis & Schnur's portfolio. They also own the nearby buildings at 1519 and 1521 Walnut St, the Philadelphia Inquirer reports.
The LA firm's footprint continues to grow in Center City, the future of which will be the subject of Bisnow's event on Thursday at the Ritz-Carlton.
The property's fair market value, as disclosed to the city, in the deal is a reported $8.34M. Exact terms of the deal, which reportedly closed back in October, were not disclosed. [PI]
