October 24, 2016
3.5x equity multiple, a 21% IRR over the 7 year hold period
We represent a New York based multifamily operator who is seeking a JV equity partner to recapitalize an “Off Market” large apartment complex located in New Jersey within commuter distance to Manhattan and Philadelphia.
The 1000+ unit property is currently over 92% occupied and attracts a primary tenant base of young professionals and families. This complex is situated on 50+ acres with over 50 buildings.
Some of the key amenities include a fitness center, several tennis courts, dog parks, biking and jogging trails, multiple swimming pools, jogging and biking trails and golf course views.
Furthermore, the tenants enjoy a short commute to New York City and Philadelphia and are minutes away from Princeton, Rider and Rutgers Universities.
If you would like to receive additional information on this opportunity, please call me at (212) 716-5611.
Michael J. Campbell | Partner
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