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February 05, 2020  

REIT Markets NJ Rental Property

Roseland Residential is offering a Central New Jersey apartment complex that is expected to draw bids of about $51 million from value-added investors.The 200-unit Riverwatch Commons in New Brunswick is 93% leased. At the estimated value of $255,000/unit, a buyer’s initial annual yield would be 5%. JLL is representing Roseland, a Parsippany, N.J., REIT managed by Mack-Cali Realty of Jersey City, N.J.The property encompasses two three-story...

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