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M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B
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Portfolio includes The Old Bridge Town Center and Geick Park Residency Hudson Atlantic Realty arranges Old Bridge, NJ Portfolio sale for $24.5M
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Atlantic. “Because we were able to target the right buy - er profile for this deal, the seller was able to maximize their investment return.” Founded by Jeffrey Ot- teau and Adam Zweibel , Hudson Atlantic Realty was created to provide brokerage services to property owners, investors, and commercial real estate developers. The firm’s deep relationships with the investment com - munity and comprehensive understanding of the mar - ketplace create a competitive advantage for its clients. With the closing of this latest transaction, Hudson Atlantic Realty is continuing to make its mark in commercial real estate. MAREJ
LD BRIDGE TWP., NJ — Hudson At- lantic Realty has
kicked off the year in spec - tacular fashion with four multi-family deal closings in 2022, the latest of which was a 2-property portfolio that sold for $24.5 million. Located in Old Bridge Twp., the portfolio included the Old Bridge Town Center and Geick Park Residency properties. Old Bridge Town Center is a mixed-use prop - erty with 27 apartments and seven commercial spaces HI-LIGHTS APRIL 22 - MAY 19, 2022 SPOTLIGHTS SOUTHERN NJ SOUTHEASTERN PA 5-10B 15-17B 4B Plants Roots In NJ
Adam Zweibel Jeffrey Otteau totaling 19,000 s/f. The build - ing features large size apart - ments with Juliette balconies and is near to a vibrant mix of restaurants and shops. One mile away is Geick Park Residency, a brand new 33- unit age-restricted multifam - ily property. With its large unit sizes, swimming pool, fitness center and balconies, it is especially appealing to 55+ households seeking a
Geick Park Residency
more leisurely lifestyle. Both properties are easily acces - sible from US-9, Rte. 18, and the Garden State Parkway, and are within a short drive to employment centers, col - leges, and hospitals. “Packaging multiple prop -
erties into a single transac - tion with both conventional and active-adult apart - ments, and commercial spaces requires a compre - hensive marketing plan” said Adam Zweibel, a man - aging partner at Hudson
Gwynedd Mercy University sells 150-acre property to an affiliate of Beacon Capital Partners for $31.5M
to create a development plan that includes public spaces and life science training for the community,” said Steve Pur- pura , president Life Sciences, Beacon Capital Partners. “We fully expect it will be the next chapter in the long history of innovation in the area, as well as bringing high-quality jobs and tax revenue.” Gwynedd Mercy University has recently embarked on a number of improvements to existing campus facilities and plans to make more changes over the next 24 months. More details on those plans will be shared shortly. “As we approach our 75th anniversary and emerge from the pandemic with a clear vi - sion and plan for the future, we are excited by the many opportunities the sale of this property presents for our cur - rent and future students,” said D’Emilio. “Our reputation for preparing Distinctive Mercy Graduates who make a real and lasting difference in the com - munities where they live and work is well known and we look forward to offering our students even more opportunities to achieve their dreams.” MAREJ
GWYNEDD VALLEY, PA — Gwynedd Mercy Univer- sity announced that an affiliate of Beacon Capital Partners, LLC purchased a 150-acre piece of property that sits ad - jacent to the University’s Main Campus on Sumneytown Pike for $31.5 million. A portion of the proceeds from the sale will be used to support strategic investments that align with the University’s vision of becoming a Catholic university leader in professional and healthcare education. More details on those plans will be shared later this month. The University made the decision to sell the property following a careful review of its space needs as part of a recently completed University Facilities Master Planning pro - cess, and significant interest from potential buyers. “Just as our decision to pur - chase this property presented a once-in-a-lifetime opportu - nity to acquire a prime piece of real estate, the decision to sell it at this time will move the University forward in achieving our vision for the future,” said Gwynedd Mercy University president Deanne
MONTGOMERY COUNTY PA
Gwynedd Mercy University
on professional and healthcare innovation.” Beacon is a leader in the development of state-of-the-art life science research and devel - opment facilities and is focused on expanding its footprint in the Philadelphia area. “This acquisition demon - strates our commitment to supporting suburban Philadel - phia as a hub for life science research as it drives life-chang - ing innovation. We’re looking forward to working with the township in a thoughtful way
H. D’Emilio, JD . “We remain focused on transforming our ex - isting campus by adding more state-of-the-art facilities and technologies that support in - novative teaching and learning initiatives designed to enhance existing programs and sup - port new market-responsive programs. We are pleased we were able to come to an agreement with Beacon, which will use the property to support advance - ments in life sciences fields, an area that aligns with our focus
16-17B
ALSO INSIDE
Southern NJ Chapter of the Appraisal Institute .....8-9B CREW NJ .............................. 14B People on the Move ........... 20B
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