Lehigh Financial Group Finances Purchase of Catasauqua Apartment Building
Landmark 22-Unit Property Scheduled For Improvements
Allentown, Pa. – A landmark apartment building at one of Catasauqua’s busiest intersections will get some TLC from a new owner thanks to financing arranged by Lehigh Financial Group of Allentown.
Silver Manor for Adult Living, a historic 22-unit building at 2 N. Front St. was purchased Aug. 8 by Al and Kertoria Berry of Flemington, N.J., trading as Senan Investment LLC. Though the purchase price is private, Al Berry said he plans to invest another $50,000 into updating the exterior and interior of the building at Front and Race streets.
“We want to do some things to both the outdoor and indoors,” Berry said. “We want to do a facelift and put a lounge out there. We have some room inside on the first floor we can repurpose to make it look more like a hotel, but we want it to feel like a home.”
Berry said 15 of the units are currently occupied and the units are currently rented to adults age 55 and older. It is not an assisted-living facility and there is no on-site medical care, he said. “It has a lot of potential,” Berry said.
He praised Jeff Barber for his work in arranging the financing required to purchase the property. “We love working with Jeff and he was really, really great in helping us,” Berry said, adding that Senan Investment is looking at expanding its holdings in the Lehigh Valley. “We see that the area is growing and the potential is good. Our investments have the potential to grow there.”
Lehigh Financial Group – which includes Barber and colleague Lewis Edwards — helps clients find and arrange financing for loans ranging from $100,000 to $5 million for purchase or refinances all types of properties.
“Al and Kertoria are great investors who want to be part of the Lehigh Valley community and help us preserve similar properties,” Barber said. “It’s a pleasure to work with them and we look forward to helping them in the future.”
(Photo provided with all permissions by Lehigh Financial Group)
Lehigh Financial Group, LLC is a leading source of innovative real estate capital solutions and financing options for commercial customers. The company, based in Allentown, serves the Lehigh Valley region by providing capital for businesses and investors locally, regionally and nationwide. For more information on how Lehigh Financial Group LLC can help your business, please see our website at http://www.lehighfinancialgroup.com.