4B — July 29 - August 11, 2016 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers

37-unit garden apartment property sells for $171,621 per unit Redwood Realty completes sale of Courtland Gardens in Pearl River, NY for $6.35 million P

worked closely with the sell- er and their tax advisors to structure an installment sale disposition. Redwood Realty provided an opinion on the term, rate and parameters of a carry-back mortgage that could be offered to a potential buyer. “This was a transaction that required digging deeper to find a creative solution to meet the seller’s objectives,” said Thomas McConnell, CCIM , managing partner at Redwood Realty. “At the same time, the buyer was willing to pay an aggres-

sive price for the property, which speaks to the continued strong investor demand in the market for well-located assets.” n Benchmark Const. promotes Raelene Hachkowski and Alex Landis to project managers BROWNSTOWN, PA — Benchmark Construction Company, Inc. announced

EARL RIVER, NY — Redwood Realty Advisors announced that it has completed the sale of a 37-unit garden apartment property in Pearl River, NY. Courtland Gardens sold for $6.35 million or $171,621 per unit. “Our team put together a uniquely structured deal to help minimize the tax expo- sure for the seller, a long-time owner who was looking to exit the real estate business,” said KevinMcCrann , a managing partner at Redwood Realty. McCrann and investment associate Thomas Gorman

the promo- tion of Rae- lene Hach- kowski and Alex Lan- dis to the position of project man- ager. Hach- kowski and Landis will oversee the daily opera- tions of se- lect projects i n c l u d i n g coordinating field and ad- ministrative activities as well as en-

Courtland Gardens

Our Safety Group members saved over

Raelene Hachkowski

in the last 8 years on Workers Comp costs. How much did you save? $ 1,662,554

Alex Landis

suring all parties involved in the construction process are working to serve the clients’ best interests. Hachkowski started work- ing at Benchmark in May of 2009 as an assistant project manager. A graduate of the Art Institute of York, Hach- kowski holds an Associate’s degree in Specialized Tech- nology with a concentration in Interior Design. Landis started at Bench- mark in June of 2014 as an assistant project manager. Landis is a graduate of the Pennsylvania College of Technology with a Bach- elor’s degree in Construc- tion Sciences and Project Management. Benchmark Construction Company, Inc. is in its 31st year of providing award- winning, commercial and institutional construction services with a focus on the senior living, health- care, higher education and commercial/specialty mar- kets. We offer general con- struction, preconstruction, construction management and design-build services in Pennsylvania, Maryland and Delaware. n

Significant upfront discounts on Workers Comp! Declared dividends six years in a row! *

For further details on how to gain the rewards of participating in the new Professional Real Estate Owners and Managers Association Inc. Safety Group #204, please contact: Neil Owens, CIC, Esq. Safety Group Administrator neil_owens@cohenins.com Tel: 973-403-9500 • 800-277-9505 Fax: 973-403-7755

Savings on the cost of Workers Comp coverage are now possible for eligible members of the NJAA who join our unique Workers Compensation Safety Group. Participation also offers these advantages: • Up front discount – most other carriers have reduced or eliminated managed care and other credits • Potential dividend based on experience of this large group – 6 year average of declared dividends is 8.00%* • Easier audit process due to calendar year policy • Customized risk management with the insight of E. B. Cohen experts

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