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  • Class A 55+ property is centrally situated in

Gebroe-Hammer Associates arranges $23m multi-family sale of Waterside Villas in Central Jersey

MONROE TWP., NJ — Within one of Middlesex County’s highest income-growth neighborhoods, Gebroe-Hammer Associates has arranged the $23 million sale of 100 class A apartment-home units at Waterside Villas, an upscale 55+ community located at 1 Overlook Dr., in historic Monroe Twp. The transaction was arranged by Adam Zweibel, senior vice president, who exclusively represented the seller and procured the buyer, Sela Properties. “The buyer was drawn to Waterside Villas’ prominence and the vibrant neighborhood’s highly educated 55+ age demographic as well as a nice mix of other age groups, which render it extremely retiree and family friendly,” said Zweibel, who represented the seller in acquiring the property just two years ago and noted 80% of the age 35+ population is over the age of 55 market-wide. “In addition to its new classic-architecture design, Waterside Villas posed a rare investment opportunity within the sought-after Concordia neighborhood – a standout for ranking highest in terms of income growth among all Monroe Township constituent neighborhoods over the past five years.”

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