26A — June 28 - July 11, 2019 — M id A tlantic
Real Estate Journal
M id A tlantic R eal E state J ournal
ONROE , NJ – SELA Realty In- vestments , the Fort Adam Zweibel from Gebroe Hammer represent both the sellers and buyers SELA Realty acquires Waterside Villas for $23 million in Monroe, New Jersey M
Le e ba s e d investments and property management company had announc ed today its re- cent acquisi- tion – Wa- terside Villas – A 100 unit class A property located in Monroe. Waterside Villas is a 2009 classic-architecture build- ing within the sought-after Tal Steinberg
Concordia neighborhood, which ranks highest in terms of income growth among all constituent neighborhoods in Monroe Township over the past five years. This senior- rental community is one of the region’s premier high- identity properties within one of the best performing senior-apartment-rental sub- markets in the state. The purchase price was reported at $23 million with 100% occupancy at time of acquisition. Tal Steinberg managing partner for SELA Realty Investments said: “We are very proud to add this magnificent property to our portfolio! It’s our 3rd 55+ community in NJ which offers very stable and good quality tenancy base, along with low turnover. This acquisition also pushes us to a new mile- stone of 1000 units! The property enjoys a very high occupancy levels these past few years. It was built as an assisted living in 2009 with all top-notch amenities such as gym, library, com- mercial kitchen, lots of open spaces, outdoor seating areas, dining room, business center, storage facility and many more. We are planning to add more activities for the resi- dents and keep the strong de- mand for this building along with rent increases and an addition of solar energy plan which due to the building running mainly on electric should bring a huge upside to the property” AdamZwei- bel from Gebroe Hammer represented both the sellers and buyers. “Adam brought this deal to my attention and did an amazing job pushing this deal and overcome ob- stacles along the way” said Steinberg.
Our goal is to provide our investors with comprehensive care for their investments, including outstanding property management, accounting tenant matters, leasing and most importantly maximizing cash flow. Our mission is to meet our goals while providing our tenants with exceptional care, security and a pleasant environment for their families.
1640 Anderson Avenue, Fort Lee, NJ 07024 tel: 201.338.5160 www.sela-realty.com
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