Central and Southern NJ — A&G Real Estate Partners is auctioning a stabilized, 64-property portfolio of real estate assets amassed by a private investor focused on Central and Southern NJ.
The sealed-bid auction, which closes July 27, “represents an excellent opportunity for investors of all sizes to hedge against inflation by acquiring the kind of stabilized, income-generating real estate properties that are increasingly difficult to find in today’s tight market,” said Jeff Hubbard, senior managing director of Real Estate Sales for A&G.
The portfolio in its entirety is 92 percent occupied, with average per-unit revenue of about $1,225 per month for the single- and multifamily homes. “The pooled structure of this sale is noteworthy as well. It allows investors to customize their bids based on their particular capital resources and real estate interests,” added Jamie Cote, senior managing director of real estate sales at A&G. “You could target undeveloped land in a busy retail corridor or pick up a seven-unit rental property located within walking distance of major employers and educational institutions. Thirteen of the properties are located within Qualified Opportunity Zones, offering buyers attractive tax incentives.”
The seller is a private investor who has bought, renovated and rented these properties over the course of two decades and now wishes to retire and allocate the vast majority of the proceeds of the auction to charitable endeavors. “These single- and multifamily rentals generally are in good condition, with very little, if any, deferred maintenance—an important consideration given today’s higher construction costs and ongoing labor shortages,” said Katie DeCoste, a managing director of real estate sales at A&G. “The residential development opportunities here also include some true standouts. One example is 328 Stokes Rd. in Medford—a single-family site surrounded by houses worth up to $1 million.”
The six pools of available assets, including multifamily residential properties with anywhere from two to seven units each, are divided as follows:
Camden: Nine single-family rental properties.
Florence, Maple Shade, Beverly, and Burlington: 10 single-family rental houses, two multifamily properties
Trenton: 23 single-family rental houses, six multifamily properties
South/Central Counties (Ocean, Burlington, Camden, Gloucester, Mercer): Nine land parcels ranging in size from 0.5 to 160 acres, primarily zoned residential
Buena, Lumberton and Winslow: Two single-family rental houses, one multifamily property
Camden and Woodbury: Two commercial properties (a privately-owned academy and a small office building)
The commercial land parcels available in the auction include a 2.27-acre, undeveloped site on Rte. 73 in the Marlton section of Evesham Township. “This prime location sits between two high-traffic shopping centers: Promenade Shops and Willow Ridge Plaza,” said Christian Koulichkov, A&G managing director of real estate sales. “Zoning allows for a wide array of potential commercial uses on this prime retail corridor.” With respect to income-generating properties under lease, one highlight is the 70,000 s/f private academy located at 1770 Mt. Ephraim Ave. in Camden. “That building is under lease through August 2025 paying $288,000 of triple-net income every year,” noted Cote.
Additional residential development opportunities include a Little Egg Harbor site that consists of 40 acres of upland, offering 8.8 acres of developable frontage on Stage Road. Including wetlands, the entire 161-acre parcel offers potential to sell environmental credits or conservation easements. The development portfolio also includes single-family sites in Little Egg Harbor and Ocean Gate.