An apartment owner has sold a five-building, 301-unit portfolio in East Orange for $53 million, under a transaction arranged by CBRE.
A multifamily investment firm has sold a seven-building, 641-unit portfolio in Newark and Irvington for $72 million, nearly doubling the price it paid for the properties in 2016.
A real estate investment and management firm has launched a $50 million fund to acquire transit-oriented, workforce housing in New Jersey and elsewhere in the Northeast.
One Wall Partners has added a new property management executive to help the company oversee its growing portfolio of transit-oriented workforce housing in the region.
A landmark package of new rent control laws passed by the New York State government in mid-June appears to have kick-started a new kind of boom for the New Jersey real estate market. The laws, which dramatically strengthened tenant protections in New York City, took key steps such as repealing what was known as the vacancy bonus provision, which had allowed a property owner to raise rents as much as 20 percent each time a unit became vacant.
One Wall Partners, a Newark-based owner of transit-oriented workforce housing, has expanded its portfolio with the acquisition of nearly 1,000 apartments in eastern Pennsylvania.
It’s hard to believe that more than two years have passed since we launched Real Estate NJ with what I felt was a compelling cover story: Foreign investors were making a splash in New Jersey and paying impressive prices for properties across the state. That trend has seemingly slowed since then, at least when it comes to high-profile deals involving trophy properties. But the good news is that New Jersey is still drawing investors from beyond the state — whether it’s New York, Chicago or the West Coast — who are entering the market for the first time.
A real estate investment and management firm has quietly built a portfolio of transit-centric, workforce housing properties in northern New Jersey — with local holdings that have grown to some 40 properties with more than 2,000 apartments — and it sees a continued opportunity for expansion in the state and in the region.
An investment and management firm has expanded its portfolio with the purchase of a 159-unit apartment complex in downtown Rahway, in a transaction brokered by HFF.
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.