The property involved in this transaction is a 304-unit apartment complex known as Thousand Oaks Village located at 165 Thousand Oaks Dr, Atlantic Highlands in the Linwood market. The sale price was $56,000,000. The complex consists of 20 two-story buildings and includes a mix of apartment layouts: 196 one-bedroom units, 48 two-bedroom units, and 60 three-bedroom townhome-style units. Built in 1981 and renovated in 1999, the asset offers features such as private patios and balconies, a swimming pool, tennis courts, and on-site laundry facilities. The location provides easy access to regional employment hubs and transportation options.

Summary of transaction details:

• Property Type: Apartment Complex
• Transaction Amount: $56,000,000
• Address: 165 Thousand Oaks Dr, Atlantic Highlands
• Market: Linwood
• Seller's Representative: Joseph Brecher (Gebroe-Hammer Associates), Ken Uranowitz
• Buyer: Kushner Real Estate Group

The deal was represented by Gebroe-Hammer Associates, with Ken Uranowitz and Joseph Brecher serving as the seller's representatives. The acquisition reflects Kushner Real Estate Group's ongoing strategy of investing in suburban multifamily properties. Gebroe-Hammer Associates highlighted the favorable market conditions that led to the decision to sell the property, as well as the asset’s high occupancy rates and potential for ongoing capital improvements.