Real Estate Journal — New Jersey — March 16 - 29, 2018 — 5B
www.marejournal.com
M id A tlantic
N ew J ersey
VP Lanni facilitates deal in high demand area Kislak sells multifamily for $8.5 million in Central NJ
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remains at an all-time high.” “Dan did an excellent job handling this off-market sale,” said Robert Holland , presi- dent. The property is a fully oc- cupied, four-building apart- ment complex with on-site parking and consists of 10 studios, 38 one bedroom units, and 20 two bedrooms unit. In 2015, the roof was replaced, and sidewalk pavers were in- stalled. Future plans for this value-add opportunity include renovation of the apartments, thereby increasing the rental income potential.
amesburg, NJ — The Kislak Company, Inc. announced the $8.5 mil- lion sale
Noah Burton, Esq. of Schwartz Burton LLP rep- resented the purchaser and Tara Phelan Carver, Esq. of Giordano, Halleran & Ciesla , represented the seller. Meridian Capital Group provided the funding for the transaction. Daniel Lanni joined Kislak in 2010 and specializes in the sale of multifamily and other investment properties in cen- tral and northern New Jersey. He was the recipient of the firm’s 2011 Rookie of the Year Award and was promoted to a vice president in 2014. n
of Tall Tree Apartments, a 6 8 - u n i t m u l t i f a m - ily property l o c a t e d a t 1 7 5 Bu c k - elew Ave. in Jamesburg in
Daniel Lanni
Middlesex County – the state’s second most populous county. Vice president Daniel Lan- ni represented both the seller and purchaser in the first sale of this property in over 30 years at an aggressive 4.5% cap rate. Recently, Kislak sold a combined 120 plus units to the purchaser. Highlighting Kislak’s rela- tionship to the seller and the high demand for multifamily properties in this region, Mr. Lanni said: “We previously sold 232 units for the seller and this was the last multi- family property in their portfo- lio. The experienced purchaser moved rapidly and performed flawlessly with an outcome satisfactory to all parties. The demand for multifamily prop- erties in central New Jersey Langan appointed president of BCSJ Board Marlton, NJ — Surety Title Company, LLC , a title insurance firm serving residential and commercial cli- ents through New Jersey and Southeastern Pennsylvania, announced executive vice pres- ident/partner, Keith Langan , has been appointed president of the Businesses Commit- ted to South Jersey (BCSJ) board of directors in which he has been an active member for 20 years. In his leadership role, Langan looks to further expand the group’s member- ship and its goal of bringing superior information, knowl- edgeable presentations and relationship-building events to those in the South Jersey real estate and economic develop- ment industries. Langan joined Surety title in 2011, when he partnered up with Michael Ryan, John DeSantis and Brian Klaus . As executive vice president, he plays an integral role in all aspects of the business, includ- ing operations, marketing and sales. n
175 Buckelew Ave.
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