Real Estate Journal — Owners, Developers & Managers — July 26 - August 8, 2019 — 5B
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M id A tlantic
O wners , D evelopers & M anagers
O O D B R I D G E , NJ — The Kislak Co. announced the VP Justin Lupo arranges off-market sales in Camden, Burlington & Cumberland Counties The Kislak Company sells 326-unit multifamily portfolio in South Jersey for $24.5 million W
Two-story brick garden apart- ment complex with 64 one- and two- bedroom apartments. It is located 10 miles from Phila- delphia. The Kislak Co. announced the sale of four investment proper- ties totaling $5.135 million in Belleville and Bloomfield, NJ. The Belleville properties are located at 614-618 Mill St. and 253 Joralemon St. The Bloom- field properties are located at 32 and 160 Bloomfield Ave. Sales associate Tom Scatu- orchio represented all parties in all but one transaction. Senior VP Matt Weilheimer
partnered with Scatuorchio on the 160 Bloomfield Ave. sale. The Mill St. property consists of three brick, two-story build- ings housing 18 one-bedroom units. The property at 32 Bloomfield Ave. is on a prominent corner with high visibility and consists of 2,000 s/f of retail space and two 1,100 s/f residential units. The fourth property is located at 160 Bloomfield Ave. and con- sists of one ground floor office and two residential units with six, income-generating parking spaces, which presented an- other value-add opportunity.
recent o f f - market sale of a 326-unit mu l t i f a m - ily portfolio in southern NJ for $24.5 million. The portfolio con- sists of the following properties.
Justin Lupo
- Regency House with 195 units located at 304 Erial Rd. in Sicklerville, Camden County; - Upper Deerfield Estates with 67 units located at 23 Mc- Cormick Blvd. in Bridgeton, - Polo Ridge Apartments with 64 units located at 1210 North Rte. 130 in Burlington Twp. VP Justin Lupo arranged the sale on behalf of the seller, Mercer Management , and also procured the purchaser, Westover Companies , which is a longtime client, for the port- folio. Doug Doerr of North- field Bank arranged financing for the purchaser. “The location of the proper- ties provided the purchaser with an opportunity to acquire a value-add portfolio that fits strategically within their busi- ness model in a multitude of ways,” added Lupo. Regency House is a four- story brick, mid-rise apartment building with 195 one- and two- bedroom apartments. It is located approximately 10 miles from Philadelphia. Upper Deerfield Estates is a single-story active adult Dancker launches new business unit SOMERVILLE, NJ — Dancker, an interior solu- tions firm focused on co- creating environments that support how people work, learn, and heal is launching ForBuild , a new interior construction services busi- ness unit, to provide special- ized manufactured construc- tion solutions to its clients. With ForBuild, dancker is changing the way in which spaces are built by taking the construction process off-site and simplifying it through the integration of technology. This approach empowers innovation while providing better manage- ment of design quality, cost controls, and schedule cer- tainty.
Polo Ridge Apartments
apartment community with 67 two-bedroom apartments. It is
located in southern NJ. Polo Ridge Apartments is
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