ONE WALL PARTNERS EXPANDS INTO PHILADELPHIA MARKET
Takes Over Management of Park Waverly Apartments to Reposition Asset
One Wall Partners, an owner and manager of transit-oriented workforce housing, has expanded into the Philadelphia market, assuming the management of Park Waverly Apartments in Northeast Philadelphia.
Park Waverly Apartments, located at 155 East Godfrey Avenue in Philadelphia, is a 16-building, 498-unit rental property in close proximity to numerous transportation options, including SEPTA’s Fern Rock Transportation Center and Fox Chase Line Regional Rail, as well as to Routes 1, 611 and 309.
The gated community offers a host of amenities, including swimming pool, key-card parking access, clubhouse, and 24-hour emergency maintenance. All apartments in the three-story buildings feature terraces.
Headquartered in Newark, NJ, One Wall Partners is a vertically integrated investment and management firm that owns and operates a total of 2466 units of rental housing in the Northern New Jersey and Philadelphia markets. The company manages all properties through its in-house management group, One Wall Management.
“We’ve had our eye on Philadelphia for some time, and we believe the market is positioned for continued, stable growth,” said Andy Wallace, CEO and Principal of One Wall Partners. “The Park Waverly asset is a perfect fit for our strategy, and we will bring additional value to the property by enhancing management, security and resident services.”
One Wall Partners will immediately begin rebranding and repositioning the property, with new fencing, landscaping for the grounds, updated amenities in common areas, enhanced mechanical systems and improvements to drainage on the property.
About One Wall Partners
One Wall Partners was founded in 2010 with a primary focus on multi-family real estate assets. A vertically integrated investment and management firm, One Wall Partners focuses on transit-oriented workforce housing, with 2,466 units of rental housing in Norther New Jersey and Philadelphia. Company principals have extensive management expertise across a spectrum of industries including real estate, health care, logistics and transportation. One Wall Partners’ in-house property management group, One Wall Management, manages all the firm’s assets, and helps to control 100% of the value chain while realizing significant operational efficiencies.
One Wall Partners
24 Commerce Street, Suite 1200, Newark, NJ 07102
Media Contact: Shea Communications LLC
George Shea, Maria Gabajiwala (212) 627-5766