Cherryhill Village sold for $571M

[inimrepus]

LFPress is reporting that Cherryhill Village has been sold for $571M to Park Property Management

[Djeffery]

Got a chuckle when it mentioned parking garage and balcony renovations. My dad and his wife moved into one of the apartments there right around the time Minto bought the complex in 2011. They were told that their balcony would be renovated, and the concrete railing would be replaced by a glass railing. They moved after a couple years, and the parking garage had been done, but the balconies hadn't been. Driving by now, they still have done the balconies on his old building, which was one of the ones immediately behind the mall. I think they still only did half of the buildings in all that time.

[ssiguy]

That's a hell of a big purchase.

[MrSlippery519]

I wonder if this includes any other undeveloped land, that seems like a huge cost for what is there. Many of the buildings need a fair amount of work as well .

[Djeffery]

Originally Posted by MrSlippery519

I wonder if this includes any other undeveloped land, that seems like a huge cost for what is there. Many of the buildings need a fair amount of work as well .

I don't know if it's that out of whack. Doubled in 10 years? My house has almost tripled in that time. If memory serves, Minto only bought the developed village, not the lands to the west, which were retained by Esam. I'm not even sure if Esam is a corporate entity anymore, or who owns that land.

[MolsonExport]

Mary Hill used to hang out in Cherry Hill Park
The game she played lasted all day 'til way after dark
All the girls they criticized her
But all the guys just idolized her
'Cause Mary Hill was such a thrill after dark
In Cherry Hill Park