2B — May 16 - 29, 2014 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
Fairfield Corporate Park, Fairfield, New Jersey
Kislak represents SELA and Berkadia finances SELA Realty completes $7.65m purchase of a 110 unit complex
M
ERCHANTVILLE, NJ – SELA Realty Investments , a real
FOR LEASE 32,000 Square Foot Industrial Building
estate investment and man- agement company located in Fort Lee, NJ has announced its recent acquisition – Ma- pleview Apartments, a 110 unit garden apartment com- munity. The purchase price recorded was 7.65M which represent a 7.3% Cap rate. Tal Steinberg , managing partner for SELA says “this acquisition is another step in our southern direction, we are planning to buy more in South Jersey. We like the proximity to Philadelphia and we believe
* Warehouse/Manufacturing * 6,000 Square Feet Office – Can be reduced * 20 Ft Ceiling Height / 4 Tailgate Doors / 60+ Car Parking * Attractive rental rates and terms available.
SHELDON GROSS REALTY, INC. REALTORS ● Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 E-mail: sgross@sheldongrossrealty.com
Mapleview Apartments, Merchantville, NJ
in the area.” The occupancy at the time of purchase was reported at 97%. The complex is surrounded by a park like setting in the heart of Mer- chantville. Matt Weilheimer from Kislak was the listing broker and Joseph Keenan from Kislak represented SELA in the transaction. Financing was assumed through Berka- dia . n Hartz Group names Ronald Bangs as new CFO SECAUCUS, NJ — Hartz Group , has named Ronald Bangs its new chief finan- Mountain Corporation , both affiliates of Secaucus- based Hartz Mountain In- dustries. Bangs joined Hartz in 1996 as the CFO for Hartz Moun- tain Corporation and then moved to Hartz Capital, Inc., the privately held investment arm of the Hartz Group, when it was created in 2005. The Hartz Capital portfolio is run opportunistically and invests across a wide variety of asset classes, including debt and eq- uity securities, financial and physical commodities, and direct equity investments. “Ron has been invaluable to the success of Hartz Capital” said Edward Stern, President of Hartz Capital. “His promo- tion is well deserved.” n Ronald Bangs cial officer. He p r e v i - ously held the position o f C O O / CFO for the Hartz Cap- i t a l , Inc . a n d C F O f o r Har t z
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