7-27-18

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INDENWOLD, NJ — The Kislak Com- pany, Inc. announced L Senior VPs Weilheimer & Waisbrod arrange sale of 456 units for repeat clients The Kislak Co. resells Stonington Court Apartments in Lindenwold, NJ for $27M vise and guide them on timing the real estate cycles properly,” said Weilheimer. “We resold the property for a 32% increase in value.”

ISSUE HIGHLIGHTS Volume 30, Issue 14 July 27 - August 9, 2018

SPOTLIGHTS

the $27 . 38 million sale of Stoning- t o n C o u r t Apartments, a 456 -uni t apa r tme n t complex lo- cated at 1800 Laurel Rd., Lindenwold. S e n i o r v i ce pres i - dents Matt Weilheimer and Barry Wa i s b r o d arranged the sale on behalf of the seller

“The purchaser feels strongly about the southern New Jersey multifamily market and has had a great deal of success there, which is why we recom- mended this particular deal for him,” said Waisbrod. Situated on 25 acres of well- landscaped property, the gar- den style apartment complex consists of 456 units in 24 two-story, wood framed build- ings with brick veneers and siding. Occupancy is nearly full at 97%. New financing was obtained by the buyer from New York Community Bancorp . At the time of closing, the property was 97% occupied. 

BROKERAGE DIRECTORY Section C

Matt Weilheimer

ARCHITECTS & ENGINEERS

Stonington Court Apartments

LLC, an affiliate of a longtime client for whomKislak success- fully arranged transactions in excess of $100 million in the last 12 years. The purchaser was a private investor and longtime client. This is the sec- ond transaction between the parties following a 368-unit

sale in Westville, NJ. Kislak previously sold Ston- ington Court in 2006 for $20.8 million. “That fact that we sold this property twice in the last 12 years exemplifies how our clients rely on our market knowledge and analysis to ad-

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Barry Waisbrod

MAREJ EVENTS August 9, 2018 Philadelphia Healthcare & Medical Properties Conference September 20, 2018 New Jersey Multifamily Conference September 21, 2018 Philadelphia CRE Forecast Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea@marejournal.com

and purchaser. The seller was Coolidge Stonington Court

Led by Gorjian, president and founder of CRE financial advisory &mortgage origination firm Uber Capital Group provides $24M refinancing of the acquisition loan for the Logan ValleyMall

ALTOONA, PA — Led by president and founder Joel J. Gorjian , commercial real es- tate financial advisory and m o r t g a g e origination f i rm Uber C a p i t a l Group, LLC has sourced a $24.05 mil- lion debt re- financing of the acquisition Joel J. Gorjian

for the Logan Valley Mall acquisition debt refinancing from a regional Pennsylvania bank at a fixed 4.75% rate and 25 year amortization,” said Gorjian. The two-story, 785,000 s/f property is located at 5580 Goods Ln. in Altoona, the largest city of Blair County. More than 100,000 people live within five miles of Altona’s center. The city is the home of the corporate headquarters of Sheetz gas and convenience store chain. “Our experience in negoti- ating financing, refinancing, and acquisitions of our own Logan Valley Mall

commercial properties na- tionwide allows us to identify the most beneficial funding sources for other real estate investors and developers. We frequently work with indi- vidual investors and boutique ownership firms that lack suf- ficient experience and national reach to obtain debt financing from varied sources,” said Gor- jian. “There is a strong need, particularly in the secondary and tertiary markets, for a financial advisor with exten- sive national ownership and investment experience. We provide this level of industry know-how,” he added. 

loan for the purchase of the Logan Valley Mall. The cli- ent was a private national commercial real estate invest- ment group. Uber sourced the financing from a regional bank based in Pennsylvania. National real estate inves- tor Gorjian established Uber in late 2016. The company is based in Great Neck, NY and operates nationally, with its main focus on the Southwest, Midwest, Northeast, and Southeast markets. To date, Uber has provided in excess of $100 million worth of com- mercial real estate loans. "We have obtained the loan

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