ROSELAND, NJ — The real estate practice at Brach Eichler, a Roseland, NJ based law firm, has announced that it closed just under $2.05 billion in real estate deals in 2019. Real Estate Practice Chair Allen Popowitz said the strong year was a continuation of a positive trend in real estate throughout the mid-Atlantic states.
Among the highlights:
• The strongest sector was multifamily, with 25,000 total units across 80 transactions, representing sales, purchases and refinancing. This included one deal with more than 6,000 apartments with a transaction value over $1 billion. The predominant property locations for multifamily included NJ, NY, NC, PA, DE, MD, MI, and VA.
• Other significant deals for private investors included:
▪ Over 1,500 apartments in Michigan for one investor (five properties)
▪ The refinancing of 11 properties containing almost 3,000 units in the Capital District of New York