32 — August 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers Zweibel represents the seller, Sharbell Development, in the transaction Hudson Atlantic brokers $20M sale of Southside Lofts in Robbinsville, NJ
R OBBINSVILLE, NJ — Hudson Atlantican- nounced the successful sale of Southside Lofts, a 64- unit class A multifamily prop- erty located in Robbinsville. The property, built in 2020 by Sharbell Development , closed for $20 million at a 5.7% cap rate. Adam Zweibel , president and Broker of Record at Hud- son Atlantic, represented the seller, Sharbell Development, in the transaction. Zweibel also identified the buyer, who was undisclosed. “We are thrilled to have
brokered the sale of South- side Lofts, a high-quality as- set in a prime location,” said Zweibel. “In a challenging capital market environment, it’s not easy to sell negative leverage deals. Our team’s expertise and ability to iden- tify the right buyer with a compelling reason to transact allowed us to successfully close this deal.” Southside Lofts features modern amenities and high- end finishes, making it an attractive investment oppor- tunity. The property’s loca- tion in Robbinsville, a rapidly
growing community, further enhances its appeal. “Our ability to find the right buyer who understands the value of this property in the current market is a testament to our team’s dedication and expertise,” added Zweibel. “We are proud to have rep- resented the seller in this transaction and look forward to continuing to deliver excep- tional results for our clients.” About Hudson Atlantic: Hudson Atlantic is a leading commercial real estate bro- kerage firm specializing in the sale and acquisition of multi- family properties throughout all of New Jersey. With a team of experienced professionals, the firm is committed to pro - viding exceptional service and delivering superior results for its clients. MAREJ Tishman Speyer appoints Rao to lead United States residential platform WASHINGTON, DC — Tishman Speyer announced that Nikita Rao has joined portfolio and pipeline, includ- ing Tishman Speyer’s market rate, workforce and affordable assets in the US. Rao, who will be based in Washington DC and work un- der senior managing director and head of US acquisitions Paul Galiano , brings more than two decades of experi- ence as a real estate investor focused primarily on multi- family housing. In her new role, Rao will direct strategy and efforts for acquiring and operating assets and development sites. She will collaborate with Tishman Speyer’s deep bench of regional leadership, acquisition and operations teams. Rao joins Tishman Speyer during a period of significant growth across the firm’s na - tional and international resi- dential platform. Today, Tish- man Speyer has approximately 10,000 units in its residential development pipeline. MAREJ the firm as managing director, head of US residential. In this role she will lead the firm’s ex - panding US residential Nikita Rao
Southside Lofts
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