More than 300 apartments have changed hands in eastern Essex County under two recent portfolio sales brokered by Gebroe-Hammer Associates, the firm said Monday.
A joint venture is acquiring a 1,009-unit affordable housing portfolio, spanning seven towns in New Jersey, with the help of a $144 million Fannie Mae loan arranged by an out-of-state firm.
A multifamily owner is set to acquire a 178-unit property in East Orange, as part of a $22 million deal that calls for preserving its status as affordable housing.
A real estate crowdfunding platform has made its first foray into New Jersey with an apartment building in East Orange, where an owner is seeking to recapitalize the property and tap into the demand for rental housing just outside New York City.
Brokers with Gebroe-Hammer Associates have made the most of their home field advantage in recent months, closing 15 different multifamily sales in Essex County in the past 90 days.
Private investors have acquired a set of apartment high-rises in East Orange, paying $27.15 million for nearly 250 units in one of the city’s main thoroughfares.
The parent company of East Orange General Hospital has sold and leased back a 68,000-square-foot building adjacent to the facility, in a deal arranged by Lee & Associates of New Jersey.
The Kislak Co. Inc. has sold an apartment portfolio spanning five properties in East Orange, in what the firm says is the largest multifamily sale in the city since 2012.
