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January 30, 2019  

Class-A NJ Apartments Up for Grabs

Investors are getting a shot at a new luxury apartment complex in New Jersey.The 126-unit Woodmont Cove, in South Amboy, is expected to attract bids in the neighborhood of $55 million, or $437,000/unit. The owner, Woodmont Properties of Fairfield, N.J., has given the listing to HFF.The 11-building complex, which opened last year, is 98% occupied. A buyer should be able to raise rents after the initial leases expire, according to marketing...

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