MEDFORD, NJ — The Kislak Company, Inc. announced the recent sale of Haynes Run Apartments, a 148-unit apartment complex in Medford for an undisclosed price.
Senior vice president Matt Weilheimer represented both parties, longtime Kislak clients, in the off market transaction.
Haynes Run Apartments consists of a combination of one- and two-bedroom apartments situated on 22 acres. Each apartment has an individual entrance with central air conditioning, individual gas heater, rear door or patio door leading to a private patio or balcony, and full-size washers and dryers.
The property is located approximately 20 miles from Philadelphia near the New Jersey Turnpike, I-295, Route 70, Route 73 and Route 206. The location also provides residents with access to golf courses, parks, and other recreation areas.
“The long-term owner took advantage of the current strong demand among investors for multifamily real estate,” said Weilheimer. “The local market lacked available properties of this caliber. Properties of this construction, condition and size are rarely available in southern Burlington County. The buyer plans to improve the property through upgrades including new roofs, siding, landscaping, parking lots and a children’s recreational center. Apartments will also receive new fixtures and finishes.”
Weilheimer joined Kislak in 1996 and has won numerous sales production awards at Kislak including the company’s 2010 Production Award.
Now in its 109th year, Kislak was among a select group of firms recognized as a 2014 Power Broker by CoStar Group, Inc. for multifamily sales transactions in northern New Jersey and this was the firm’s ninth consecutive recognition. The firm’s 30 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania and Delaware.