High Real Estate Group spends $11.7M for 60-unit apartment complex in Ephrata Twp.

High Real Estate Group has added a 60-unit Ephrata Township apartment complex to its portfolio of residential properties.

The East Lampeter Township-based real estate developer and property management company paid $11.7 million for Stonecreek Court Apartments, which consists of five two-story apartment buildings just off Meadow Valley Road, west of Route 272. The deed describing the sale was recorded April 25.

The apartment buildings were sold by Garman Builders, a Lititz-based firm that constructed them in 2008 and 2009 as part of its development of Fieldcrest at Meadow Valley, a townhome community with 104 homes.

The apartments at Stonecreek Court are a mix of one, two, and three-bedroom units. The property was marketed for sale by The Kislak Co., a New Jersey-based firm that announced the sale Wednesday and said it received “12 aggressive offers” for the property.

No one from Garman Builders or High Real Estate Group responded to a request seeking comment on the sale.

Like the other High Companies, High Real Estate Group is owned by the nonprofit High Foundation, following the recent transfer of ownership to the foundation. Profits from all the High Companies are now returned to the foundation, which provides grants for community building efforts across central Pennsylvania.