M id A tlantic Real Estate Journal — Owners, Developers & Managers — October 21 - November 17, 2022 — 11C


O wners , D evelopers & M anagers

Dunne, MacKenzie, McHale and Langer represent seller and procure the buyer CBRE announces sale of Canter Green in Union Township, NJ

U NION TOWNSHIP, NJ — CBRE an- nounced the sale of Canter Green, a 153-unit class A apartment community locat- ed in Union Twp. The CBRE team, led by Jeff Dunne, Stuart MacKenzie, Zach McHale and Travis Langer , represented the seller, RMS Companies , while also pro- curing the buyer, Invesco Real Estate , a global real estate investment manager. Completed in 2021, Canter Green offers a best-in-class amenity package on over six acres of meticulously mani- cured grounds. Amenities include multiple indoor and outdoor tenant lounges, re- sort-style pool with cabanas, oversized fitness center with spin and yoga studio, HD multi-sport simulator, bil- liards and shuffleboard, dog run, and co-working areas, among others. CBRE’s Jeff Dunne com - mented, “Canter Green is an exceptional, high-quality asset with one of the best amenity packages that we’ve seen, especially for a smaller suburban apartment commu- nity. The property leased up very quickly, demonstrating Matan acquires 25,000 s/f industrial property in District Heights, MD FREDERICK, MD — Matan Companies an- nounced today the purchase of 7804 Marlboro Pike, a 25,000 square foot industrial property in Prince George’s County, MD. The conditioned ware- house sits on 4.20 acres and is ideally located off I-495 at Route 4 / Pennsylvania Av- enue in District Heights, just one mile from Andrews Air Force Base. The fully leased property boasts 20’ clear ceil- ing height, two docks, two drive ins, heavy power and ample parking, and is home to Ely, Inc., a museum service company that provides safe storage of art, artifacts, and antiques for museums and collectors. “We are thrilled to add this unique asset to our portfolio,” said Jamie Minkler, Director of Acquisitions for Matan. “The combination of a func- tional industrial building and over an acre of outdoor yard space make this property truly one-of-a-kind.” MAREJ

the resilient renter demand for class A+ apartments in the Metro New York suburbs, which bodes well for Invesco Real Estate’s investment.” Canter Green is situated in a mature, infill neighborhood only 40± minutes to Manhat- tan, and within 1 mile of the Garden State Parkway. The property benefits from a 30- year PILOT and has enjoyed robust leasing activity averag- ing over 16 leases per month during lease-up. CBRE’s Stuart MacKenzie added, “We are pleased to have represented RMS in the

sale of Canter Green. The community features luxury apartment finishes, as well as expansive indoor and outdoor amenities, which will con- tinue to be a major draw for residents.” CBRE Institutional Proper- ties is currently marketing for sale: 15 Bank Apartments, a 501-unit apartment com- munity in White Plains, NY; Rutherford Station Apart- ments, a 108-unit apartment community in East Ruther- ford, NJ; Lofts Two22, a 70- unit apartment community in Bayonne, NJ. MAREJ

Canter Green


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