NEWTOWN SQUARE, PA – (COMMERCIAL THREAD) –GMH communities (“GMH”) announced today that it has innovated on The Caswell at Runnymeade, a premier 249-unit multi-family community in Newtown Square, Pennsylvania. Located just 15 miles from Philadelphia in Edgmont Township, Delaware County, The Caswell at Runnymeade will consist of two four-story buildings with underground parking. The development is a joint venture partnership with AEW Capital Management, LP and is expected to open in spring 2023, with pre-lease to begin in winter 2022.
The Caswell at Runnymeade will be located just east of Ridley State Park, just minutes from Route 3 (West Chester Turnpike), Route 1 and Interstate 476, providing easy access to Philadelphia and to major surrounding towns including West Chester, King of Prussia and the media. . Conveniently located down the street in the popular Newtown Square area, nearby shops and restaurants include Whole Foods Market, ACME Markets, Rite Help, Michaels, Wawa, Starbucks, First watch, and more.
“At GMH, we have seized the opportunity to continue to grow our residential housing portfolio and develop one of the region’s leading apartment communities in our own backyard,” said Gary Holloway, Jr, President and CEO of GMH Communities. “With upscale amenities and ample outdoor space for socializing and relaxing, The Caswell at Runnymeade will provide a lovely home for young professionals, families and vacant nesters looking for a great apartment close to Philadelphia and of its surrounding suburbs. ”
The Caswell at Runnymeade will offer a variety of floor plans to suit a range of one to three bedroom lifestyles ranging from 805 to 1,623 square feet. The apartments will contain spacious bathrooms, stainless steel appliances, modern finishes and smart technological features. Additional features / designs in the unit include walk-in closets, energy efficient appliances, designer showers, balconies or terraces, and more.
“There is a strong demand for highly appointed rental apartment communities that emphasize outdoor activities and a healthy lifestyle. We are excited to partner with GMH to create an inspiring space that will enhance the resident experience, ”said Michael Byrne, AEW Director of Investments and Head of Private Real Estate and Debt.
Community amenities at Caswell at Runnymede will include a state-of-the-art fitness center, motion studio, golf simulator, movie theater, arcade room, club rooms, private conference rooms, coworking space and a lounge area. Residents will also enjoy the outdoor amenities that The Caswell at Runnymeade has to offer, such as a courtyard with a swimming pool, hot tub, outdoor theater, yoga space, kitchen, barbecue area, multiple fire pits and lounge seating.
To learn more about the development, please email [email protected]
About GMH communities
Based in Newtown Square, Pennsylvania, GMH Communities is a dynamic, privately-owned real estate company specializing in the acquisition, development and management of exceptional living communities across the United States. Since 1985, GMH has been involved in over 300 transactions representing over $ 8 billion in gross asset value across all major types of properties. For more information visit www.gmhcommunities.com.
About AEW Capital Management, LP
Founded in 1981 and celebrating its 40th anniversary, AEW Capital Management, LP (AEW) provides real estate investment management services to investors around the world. One of the world’s leading real estate investment advisers, AEW and its affiliates manage approximately $ 88.6 billion in property and securities in North America, Europe and Asia (as of June 30, 2021). Research-based and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in the public and private real estate markets and across the risk / return spectrum. AEW and its subsidiaries have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information, please visit www.aew.com.