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PCCP and Alliance Residential Acquire 173-Unit Multifamily Property in Bala Cynwyd
A joint venture between PCCP and Alliance Residential Company has acquired Luxor Bala Cynwyd, a 173-unit multifamily community featuring 8,200 square feet of ground-floor retail space.
Located at 9 Presidential Boulevard in Bala Cynwyd, Pennsylvania, the property sits approximately six miles west of Center City Philadelphia, with I-76 located less than a mile away. Originally developed in 2021 by local firm Westrum, the five-story, mixed-use community spans 2.74 acres and is currently 89% leased. Residential layouts in the building include studio, one-bedroom, one-bedroom plus den, and two-bedroom units.
“PCCP is pleased to partner with Alliance Residential on this transaction that was acquired off-market and below replacement cost,” said Lia Barsanti, Senior Vice President with PCCP. “We believe this Class A, newer-vintage property is well-positioned within the affluent Main Line submarket, which benefits from strong multifamily occupancy and convenient access to Center City Philadelphia and key suburban employment hubs.”
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