October 19, 2018; Philadelphia, PA: AION Management and AION Partners are excited to announce the acquisition of Cherry Hill Towers into the AION portfolio. Prominently located on Route 38 across from the Cherry Hill Mall, Cherry Hill Towers represents the combined firms’ first venture into the luxury apartment market.
“The acquisition of Cherry Hill Towers represents a strategic departure from AION’s standard business plan of bringing underperforming workforce housing communities to high levels of performance,” said Michael Betancourt, Managing Director of AION Partners. “We are excited to enter both the Cherry Hill and the luxury apartment markets.”
AION Management President Robin Flagler echoed Betancourt’s statement. “AION is excited to implement several capital improvement projects that will improve the quality of life for current residents of Cherry Hill Towers while making the community more competitive within the South Jersey market.”