Real Estate Journal — March 24 - April 13, 2017 — The Best of 2016 — 21C
www.marejournal.com
M id A tlantic
The largest multifamily Sales of 2016
Gebroe-Hammer Associates Middlesex/Passaic Portfolio Piscataway/Wayne, NJ
JLL Rushwood &Winchester Walk Philadelphia, PA
HFF Oakwood Village Flanders, NJ
Size: 1,417 units Brokers: Joseph Brecher, managing director, and Debbie Pomerantz, senior vice president Despite being located in two very distinct submarkets separated by 42 miles, this two-property portfolio ap- pealed to the buyer because of each Class B asset’s strategic location, proximity to high-quality schools, access to major highways and transit centers and sig- nificant rent appreciation potential associated with modest capital improvements. Both were poised for value-add enhancements and property repositioning at the time of sale. Combined, the portfolio featured a mix of classic one- and two-bedroom layouts as well as unique two-bedroom townhome-style rental homes. Amenities included playgrounds, dog runs, fitness centers, pools, picnic areas and picturesque courtyards and walkways.
Size: 710 Units Brokers: Erin Miller, James Galbally, John Plower, Chad Orcutt JLL has closed the sale of Rushwood and Winchester Walk Apartment Homes, an institutionally-owned, two-property portfolio comprising of 710 garden-style units located in the Torresdale/Bensalem submarket in Northeast Philadelphia, a dynamic, infill submar- ket in close proximity to Philadelphia’s Central Busi- ness District. The Portfolio consists of the 392-unit Rushwood Apartments and the 318-unit Winchester Walk Apartment Homes, which combined offer a su- perior unit mix comprised of duplex-style units with basements and garages, as well as spacious one-and two-bedroom apartment homes that offer residents a highly competitive overall rental value.
Size: 1,224 units Brokers: Jose Cruz, Andrew Scandalios, Mark Thom- son, Kevin O’Hearn, Michael Oliver and Steve Sim- onelli. HFF represented the seller in this transaction, AIG Global Real Estate Investment Corp. It followed the sale of a 12-property multi-housing portfolio that HFF also closed on behalf of AIG at the end of 2015 and to- gether, the entire 13-property portfolio totaled $348.8 million, one of the largest apartment sales in the Mid- Atlantic during that period.
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