Korman AVE Apartments
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Korman AVE Apartments

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