M id A tlantic Real Estate Journal — Owners, Developers & Managers — May 29 - June 11, 2020 — 9B


O wners , D evelopers & M anagers

Marcus &Millichap inks sale of a $14M multifamily prop.

64 unit multifamily community in Virginia Beach Colliers International announces sale of Falcon Point V

WEST NEW YORK, NJ — Marcus & Millichap an- nounced the sale of Jaclyn 40, a 40 unit, 36,000 s/f multifam- ily property located at 5817 Jefferson Ave. in West New York, NJ, for $14 million ac- cording to James McGuckin , regional manager of the firm’s New Jersey office. Fahri Ozturk and Richard D. Gatto , investment sales specialists and Joseph Bel- giovine , Marcus & Millichap Capital Corporation, in Mar - cus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller, a private owner. They also secured and they also procured the buyer, a private investor, a private investor.

IRGINIA BEACH, VA — Colliers Inter- national announced the sale of Falcon Point, a multifamily community in Virginia Beach, from The Runnymede Corporation to Seminole Trail Proper- ties . Falcon Point is located at 2105 Lake Smith Dr. and in- cludes 64 apartment homes. The development, original - ly constructed in 1971, has newly upgraded exteriors, lakeside views and interior renovations. The commu- nity is located in the popular Chick’s Beach area off Shore Dr. with easy access to I-64. G.S. (Hank) Hankins , senior vice president; Victo - ria Pickett , first vice presi - dent; Charles Wentworth , senior vice president; Will Mathews , managing direc- tor; Clay Ellis , associate; and Garrison Gore , associate, with the Colliers Mid-Atlantic team represented the seller.  Providence Eng. promotes Foreman, P.E., and Kalmanowicz, P.E. LANCASTER, PA — Bart Foreman has been promoted to VP of Providence En-

5817 Jefferson Ave.

"Jaclyn40 represented a rare opportunity to purchase an ex - tremely well-built multifamily asset producing strong cash flows along the Gold Coast in Hudson County.” Ozturk, a Hudson county specialist added. The property is in walking distance from the Bergenline Ave. and Tonnelle Ave. Light Rail Station. 

Falcon Point

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gineer ing after serving as the man- ager of dis- tribution and war ehous e f a c i l i t i e s and design. Foreman has helped meet i n c r e a s e d national de- m a n d f o r warehouses by develop - ing efficient design prin - c i p l es and adopting in - novative con-

Bart Foreman

Matt Kalmanowicz

struction technology. Matt Kalmanowicz has also been promoted to VP of Providence Engineering after serving as director. Kalmano- wicz has more than 20 years of experience providing struc - tural design services across all markets. He will continue to ensure that quality, timely and affordable solutions re- main the hallmark of the firm locally, and wherever a Provi- dence design is built. 


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