8B — August 15 - 28, 2014 — New Jersey — M id A tlantic

Real Estate Journal


C entral N ew J ersey

Chapter’s members and staff volunteer on-site and with donations NAIOP New Jersey Community Action Project aids Community Food Bank

N EW BRUNSWICK/ HILLSIDE, NJ — The Community Ac- tion Project has become an im- portant date on the calendar of NAIOP New Jersey , and for 2014, the commercial real es- tate development association once again volunteered with on-site services and through donations of food and funds to aid the Community Food Bank of New Jersey (CFB). On July 18, for the fifth straight year, chapter members and staff met at CFB’s Hillside headquarters and warehouse, delivering the donations and

spending the day sorting in- coming donations, repacking food and household items, preparing food boxes for de- livery to senior citizens, and sorting clothing donations for children. “About 90 volunteers par- ticipated in this year’s effort,” said Michael McGuinness , CEO of NAIOP New Jersey. “The volunteer turn-out was the largest yet and clearly demonstrates our members’ long-standing commitment to community service. Altogeth- er, nearly 800 pounds of food products were collected, and

donations totaled more than $1,900. We sincerely thank our volunteers for their efforts in this worthy cause.” Every dollar donated equates to ten dollars of food-buying power for the Food Bank. NAIOP’s 2014 Community Action Com- mittee is chaired by Dani El- Haj , The Bank of Woodbridge, and Lauren Richter , The Rockefeller Group. CFB, a designated 501©(3) charitable organization, sup- plies food and household prod- ucts to soup kitchens, pan- tries, shelters, after-school programs and senior centers across the Garden State. Of those receiving assistance, 45 percent are children and 10 percent are elderly, according to CFB officials. Each year, the Food Bank and its partners feed 900,000 hungry people in New Jersey. n Sitar Realty reps. AEP Properties in 6,600 s/f acquisition RED BANK, NJ — AEP Properties, LLC of Red Bank, New Jersey, has re- cently acquired a three-story, 6,600 s/f office building at 213 Rte 35 in Red Bank. Arthur Pereless , managing direc- tor of AEP Properties, LLC, acquired the building due to the expansion of their port- folio of technology offerings. The building has been vacant for several years and will un- dergo major exterior and inte- rior renovations designed for multi-tenant usage. The reno- vations are planned to evoke a techy, open environment conducive for productivity and collaboration that will scream modern-day technological hub. There are already plans to fill the space with other local businesses who can benefit from each other’s products or services. Upon completion, Pereless Systems will expand its customer service and sup- port teams into the renovated property, which will create jobs in the area and ensure continued growth of the com- pany for years to come. “I’m happy to say that our company has seen substan- tial growth in these past two years,” said Pereless. Brian Murphy , vice presi- dent-Investments of Sitar Re- alty Company represented AEP Properties, LLC in this transaction. n

Community Action Project 2014

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This transaction was negotiated by: Abe Hirsch, Senior Managing Director Zev Karpel, Managing Director Jacob Schmuckler, Vice President $66,000,000 Acquisition Financing Meridian Capital Group, LLC proudly advised on financing for the following transaction: St. Moritz Apartments 224-Unit Multifamily Property 100 Daibes Court, Edgewater, NJ

1 Battery Park Plaza New York, NY 10004 | 212 972 3600 | www.meridiancapital.com

MAREJ - $66MM - St. Moritz Apartments - A. Hirsch Z. Karpel J. Schmuckler - 8-15-14.indd 1

8/1/14 10:13 AM

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