The Largest Multifamily Sale of 2017

April 17, 2018

Morgan Properties
The Apartments at Mark Center
Alexandria, VA

Size: 2,664 units
Brokers: CBRE
On August 30, Morgan Properties entered the northern Virginia market by acquiring the Apartments at Mark Center portfolio for $509 million—the largest transaction in the state for 2017. Located in Alexandria, The Mark Center is considered one of the largest institutionally-maintained contiguous portfolios in the country, consisting of 2,664 apartment units and a 63,320-square-foot retail center situated on over 150 acres inside the Beltway. The Shops at Mark Center, an institutionally maintained grocery- and pharmacy-anchored neighborhood shopping center, features national retailers. This was a major milestone for Morgan Properties as it marked the second largest transaction in the company’s history.

 

 

Gebroe-Hammer
The Duchess
North Bergen, NJ

Size: 320 Units 
Brokers: Executive Managing Directors Joseph Brecher and David Oropeza and Senior Vice Presidents Eli Rosen and Nicholas Nicolaou
Gebroe-Hammer finalized the sale of the Hudson Waterfront’s newest luxury hi-rise in October, marking the official closing of a land-parcel development agreement previously brokered by the firm in 2014. The Gebroe-Hammer team represented the developer, LWH Urban Renewal LLC and the buyer, Philadelphia-based Post Brothers. The three-towered building, located at 7601 River Rd., is along North Bergen’s short stretch of River Road waterfront. Acquisition of the uniquely styled and amenitized complex marked Post Brothers’ entry into the New Jersey market.Size: 320 Units Brokers: Executive Managing Directors Joseph Brecher and David Oropeza and Senior Vice Presidents Eli Rosen and Nicholas NicolaouGebroe-Hammer finalized the sale of the Hudson Waterfront’s newest luxury hi-rise in October, marking the official closing of a land-parcel development agreement previously brokered by the firm in 2014. The Gebroe-Hammer team represented the developer, LWH Urban Renewal LLC and the buyer, Philadelphia-based Post Brothers. The three-towered building, located at 7601 River Rd., is along North Bergen’s short stretch of River Road waterfront. Acquisition of the uniquely styled and amenitized complex marked Post Brothers’ entry into the New Jersey market.

 

 

The Kislak Company, Inc.

 Cedar Park Apartments and Townhomes in Easton, PA

Size: 230 Units 
Broker: Robert Holland
The property consists of luxury, new construction apartments and townhomes with an on-site fitness center, tenant clubhouse and pool in a controlled access/gated community. Each unit has a driveway and garage with a patio or balcony. There is on-site management and maintenance for tenant convenience. 

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