5-25-18

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Represents the largest apartment sale in New Jersey in 2018 HFF’s Cruz, O’Hearn, Oliver & Simonelli represent seller in $146Msale

ISSUE HIGHLIGHTS Volume 30, Issue 10 May 25 - June 7, 2018 SPO TLIGHTS Industrial & Distribution Centers

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apartment buildings, each with one story of covered parking at ground level. A large portion of units have been renovated since 2014. Community ameni- ties include an updated fitness center, newly renovated court- yard with lounge and grill- ing areas, clubhouse, private storage lockers and a Zipcar pickup/drop off station. The HFF investment adviso- ry team representing the seller included senior managing di- rector Jose Cruz , managing director Kevin O’Hearn and senior directors Michael Oli- ver and Stephen Simonelli . “Capital continues to be at- tracted to multifamily assets in markets with high barriers to entry and significant future rental growth,” said Cruz. “The Hudson Waterfront market re- mains a target for REITs, pen- sion fund advisors and private buyers alike.”  Fridays. It is part of the New Haven trade area, 235,000 s/f , and was purchased in partnership with an institu- tional real estate fund and Silver Peak Real Estate Partners . “As major open-air centers with proven anchor tenants in strong locations, these centers are perfectly aligned with our established criteria for acquisitions,” said Tom Wilder , a Wilder principal. “Our goal is to build on each centers’ success to enhance the shopper experience while continuing to add value for the ventures.” “With these acquisitions we are expanding our presence in Connecticut and are pleased to reestablish ourselves in Pennsylvania,” said Shelley Anderson , director of new business development. Our operating platform and long- standing tenant relationships allow us to stay competitive and creative in the retail investment arena. Qualities that are highly valued by our institutional partners.” 

oboken, NJ — Holliday Fenoglio Fowler, L.P. (HFF)

announces the sale of The Rivington, a 240-unit, luxury apartment community in Hobo- ken. This transaction repre- sents the largest apartment sale in New Jersey in 2018. The HFF team marketed the property on behalf of insti- tutional investors advised by J.P. Morgan Asset Manage- ment . Equity Residential purchased the property free and clear of existing debt. The Rivington is situated at 1130 Grand St. in the heart of the dynamic northwest section of Hoboken, which offers com- muters access into Manhattan via the Hoboken PATH Station, 14th St. Ferry Terminal and the NJ Transit bus line. Ad- ditionally, the property has a WalkScore of 94 and is within blocks of multiple retail ameni-

Jose Cruz

Kevin O’Hearn Michael Oliver Stephen Simonelli

GP-FM Show Section C

The Rivington

ties along Washington St. as well as the 5.4-acre Northwest Park. Completed in 1999, The

Rivington features 240 two- bedroom, market-rate units housed within four six-story

9-20B

Wilder gains acquisitionmomentumwith two newassets totaling over 800,000 s/f in PA&CT

MAREJ Events May 30, 2018 PA Multifamily Conference

Mechanicsburg, PA andHamden, CT — Wild- er , the national retail real

June 7, 2018 NJ Land Development Conference For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea.christman@marejournal.com

estate leas- ing, manage- ment , and development firm, in part- nership with an institu- tional real estate fund, continues to

Tom Wilder

Silver Spring Square

Directory

add to its portfolio by acquir- ing two more market domi- nating centers; over 800,000 s/f of space. Silver Spring Square in Mechanicsburg, PA is home to the only Wegman’s in the Harrisburg trade area. The powerhouse center is shadow anchored by the third ranking Target in its 13-store district, and Kohl’s, which is ranked first in its 14-store district. At nearly 570,000 s/f the center is well-positioned in one of the fastest growing communities in Central Pennsylvania.

The CBRE teamof BradNa- thanson , executive vice presi- dent, and John Colussi , sales associate, negotiated on behalf of the seller, DDR Corp. , and identified the buyer. Silver Spring Square fol- lowed shortly after the ac- quisition of The Marketplace at Hamden, CT. The center features one of the highest volume Stop & Shop locations in the New England and New York markets, T.J. Maxx, Staples, Old Navy, along with popular specialty shops Petco, Pier One Imports, and TGI

Shopping Centers.............................................5-17A Business Card/Billboard Directory.......................19A Owners, Developers & Managers............... Section B Industrial & Distribution Centers................ Section C

Upcoming Spotlights Northern New Jersey Northern PA Creative Financing www.marejournal.com

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