BET Investments of Horsham has purchased the 216-unit garden-style Lincoln Woods Apartments on Germantown Pike in Lafayette Hill for $25.5 million.
The 10-year loan for the purchase of the complex, built in 1991, was arranged through Fannie Mae by Berkadia Commercial Mortgage L.L.C. in Horsham. It represented 80 percent of total acquisition costs plus short-term capital budget.
BET has acquired 1,000 apartment units in the region in the last six months.