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  • Writer's pictureMAREJ

JLL’s Oliver, Coyne and Cruz broker multi-housing portfolio in Trenton, New Jersey for $28.85 M


Trenton, NJ — Time Equities, Inc. (TEI), a full-service real estate firm announced it has acquired a 200-unit, class A, multi-housing three building portfolio (the Trenton Loft portfolio) in Trenton for $28.85 million.

“We view our purchase of The Trenton Loft Portfolio as an opportunity to acquire a high quality, class A urban portfolio in a community underserved with respect to the product type,” said Brian Soto, director of acquisitions and asset management at TEI. “We were impressed by the level of detail and thought which went into the design and renovation of the buildings by the original developer and their commitment to providing a quality product which is generally in scare supply within the region.”

Soto, along with Max Pastor, director of acquisitions at TEI, served as the acquisition and asset managers. Commercial brokerage JLL’s Mike Oliver, Fran Coyne and Jose Cruz brokered the transaction on behalf of the seller.

The three buildings are located in the Trenton Transit Center/Chambersburg neighborhood and are within walking distance of each other as well as the Trenton Transit Center which offers AMTRAK and NJ Transit train service making it an ideal location to access Philadelphia and/or Manhattan. The portfolio is also close to the Princeton submarket (10 miles) and Philadelphia (30 miles) via Rte. 1, I-295 and I-95.

“Beyond being high-quality multi-family product, the Trenton Loft Portfolio offers market leading amenities to tenants such as screening rooms, fitness centers and lounges which are unique in the market,” said Pastor. “We foresee the addition of The Trenton Lofts Portfolio as a complementary addition to our growing multi-family portfolio providing the opportunity for sustainable cash flow and future appreciation.”


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