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Skylight Real Estate Partners And PCCP Acquire Edgewater Multifamily From Barings For $130M

Property Image
SOLD
$130,000,000
Michael Oliver
Mark Belenky
Jake Moore
+ 6

New Jersey

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MultiFamily157,687 SF
Sold 03/25/2022
the dealplayerscompscontact
Property Image
SOLD

Skylight Real Estate Partners And PCCP Acquire Edgewater Multifamily From Barings For $130M

99 Gorge Road, Edgewater, New Jersey 07020, United States

See Similar Deals
MultiFamily157,687 SF
Sold 03/25/2022
Michael Oliver
Mark Belenky
Jake Moore
+ 6
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$824
Total Square Footage:157,687 SF
Transaction Type:Sale

The multifamily property located at 99 Gorge Road in Edgewater was recently sold for a price of $130,000,000. The property consists of 226 units, with each unit having an approximate price per unit of $575,221. The transaction took place on March 25, 2022.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $130,000,000
  • Address: 99 Gorge Road
  • Market: Edgewater

The buyer of the property was Skylight Real Estate Partners represented by Andrew Miller, along with PCCP represented by Brian Haber. The seller was Barings. The deal was facilitated by brokers Jose Cruz, Michael Oliver, J.B. Bruno, Steve Simonelli, Kevin O'Hearn, and Mark Belenky from JLL Capital Markets.

J.P. Morgan Asset Management served as the lender for the transaction. The mortgage brokering services were provided by Michael Klein, Matthew Pizzolato, Gerard Quinn, and Jake Moore from JLL.

Players

JB Bruno
JLL
JB Bruno
21 deals$1.6B volume(908) 447-0021
BROKER
Jose Cruz
JLL
Jose Cruz
102 deals$7.9B volume(201) 240-7546
BROKER
Steve Simonelli
JLL
Steve Simonelli
64 deals$4.9B volume
BROKER
Matthew Pizzolato
CBRE
Matthew Pizzolato
34 deals$1.4B volume(908) 720-0342
BROKER
Michael Klein
JLL
Michael Klein
77 deals$2.6B volume(973) 549-2005
BROKER
Gerard Quinn
JLL
Gerard Quinn
31 deals$2.2B volume(973) 549-2045
BROKER
Mark Belenky
JLL
Mark Belenky
2 deals$201M volume
BROKER
Jake Moore
JLL
Jake Moore
2 deals$141.5M volume
BROKER
Michael Oliver
JLL
Michael Oliver
69 deals$4.3B volume
BROKER
Barings
Barings
SELLER
J.P. Morgan Chase
J.P. Morgan Chase
LENDER
Barings
Barings
LENDER

Details

SOLD
IMAGE: Jose Cruz, Steve Simonelli, Mike Oliver, Kevin O'Hearn, JB Bruno DATE: 03/25/2022 ADDRESS: 99 Gorge Road MARKET: Edgewater ASSET TYPE: Multifamily BUYER: Skylight Real Estate Partners - Andrew Miller & PCCP - Brian Haber SELLER: Barings BROKERS: Jose Cruz, Michael Oliver, J.B. Bruno, Steve Simonelli, Kevin O’Hearn & Mark Belenky - JLL Capital Markets LENDER: J.P. Morgan Asset Management MORTGAGE BROKERS: Michael Klein, Matthew Pizzolato, Gerard Quinn & Jake Moore - JLL SALE PRICE: $130,000,000 UNITS: 226 ~ PPU: $575,221

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