16B — July 14 - 27, 2017 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
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arfield, NJ — C6 Real Estate Partners (“C6”) , a vertically in- Joint Venture Partnership with Citymark Capital C6 Real Estate Partners acquire multifamily for $27m G
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tegrated real estate owner and operator, announced the acqui- sition of River Edge at Garfield, a 100-unit class A multifamily community located in Garfield. The property was built in 2017 and features oversized floor plans, a large swimming pool and two gyms. Located 15 miles northwest of Manhattan, the property is strategically located with direct access to Rte. 80, I-95, The Garden State Pkwy, Rte. 21, Rte. 4 and Rte. 3. The newly built property was acquired vacant by C6 in a joint
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River Edge at Garfield
venture partnership with City- mark Capital, an institutional private equity real estate fund
manager. C6 will manage all aspects of inves tment execution on behalf of the partnership. “River Edge is a rare off- marke t ac - quisition of luxury multi- family units in tightly con- strained Ber- gen County, NJ. We are e x c i t e d t o bring institu-
Brian DiSalvo
Investment Sales | Commercial Sales and Leasing
SOLD $82,000,000
SOLD $45,000,000
Dan Walsh
tional ownership and manage- ment standards to the value creation plan for this asset. The property benefits from being part of a larger master planned community that includes luxu- ry condos, and is positioned as best-in-class from a quality of life and amenity standpoint,” said Brian DiSalvo , C6 prin- cipal. “Citymark Capital is de- lighted to partner with a great company like C6 to bring at- tractive, institutional qual- ity apartments to the Greater New York City area,” said Dan Walsh , founder and chief executive officer of Citymark Capital. “This aligns with our national platform of investing in leading U.S. markets and taking a disciplined approach to generating solid returns for our investors.” “Bergen County continues to be a strong draw for a wide range of residents seeking both luxury and convenience,” added DiSalvo. “River Edge provides a spacious and attractive neigh- borhood feel that distinguishes itself from the competition.” n
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