Overview
Cushman & Wakefield is pleased to present the Bridge Pennsylvania 2-Pack, featuring two cash-flowing assets in high income markets in Pennsylvania. Built in 2001, the Bridges at Bent Creek is located across the river from the state capitol of Harrisburg and has experienced consistent improvement since the commencement of 2024. Its current cash flow exceeds $2 million (February 2025 T-2A/T-6A). Built in 2016, the Bridges of Warwick is located in the wealthy suburbs of Philadelphia, which has allowed the operator to drive rates and exceed $3.9M in cash flow at a 41% margin (February 2025 T-2A/T-6A). The Portfolio has demonstrated substantial lease-up activity at both communities over the past 15 months, resulting in the addition of 57 residents. This impressive trajectory presents an attractive opportunity for new investors to acquire a stabilized portfolio with the potential for substantial growth in its bottom line.
Investment Highlights
Institutional Quality Investment Opportunity
- The Portfolio is comprised of two well-maintained quality physical plants offering top of the line amenities strategically located in affluent submarkets in Pennsylvania.
Lease-Up Momentum
- The Portfolio has seen significant lease-up velocity at both communities over the past 15-months, with 57 residents added over this time frame.
Strong In-Place Cash Flow With Substantial Upside Through Occupancy Growth
- Generating over $5.9MM in trailing NOI at only 84% occupancy, the Portfolio provides immediate cash flow with tangible occupancy upside supported by the lack of new development and strong submarket fundamentals. With both communities financially stabilized, all additional occupancy will disproportionately flow to the bottom line.
Attractive Demographics
- Within a 3-mile radius of the Bridges at Bent Creek and the Bridges at Warwick, median home value ($395K & $508K) and median household income ($127K & $129K) are extremely strong and will allow for full absorption of future rate increases.
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