Gebroe-Hammer Associates arranges $25.5+M sale of class A Multifamily portfolio
Woodbridge Twp., NJ — Gebroe-Hammer Associates has arranged the $25.5+M sale of a class A multifamily portfolio involving 87 luxury apartment-home and townhome rental units, the majority of which are concentrated in Woodbridge Township’s Avenel and Colonia neigborhoods. Broken out into two separate trades, the single unnamed seller was exclusively represented by executive vice president Niko Nicolaou in both transactions. Debbie Pomerantz, senior vice president, and David Oropeza, executive managing director, procured the buyers of a five-building package and a single property sale, respectively, as part of two separate 1031 Exchanges. The undisclosed buyers are both private investors.“Marketed as the Metropark portfolio for its proximity to the transit hub that bears the same name, these buildings presented both buyers with an extremely rare, unique-to-market opportunity to acquire one or more of the six newly-constructed buildings from the original developer,” said Nicolaou.