The transaction involves the acquisition of a multifamily asset portfolio located in New Jersey, encompassing Weehawken, West New York, and Guttenberg. The total sale price for the portfolio is $3,500,000,000, which includes 3,783 units, yielding a price per unit of $925,192. The portfolio comprises over 6,000 apartments spread across 15 properties, primarily concentrated in Jersey City and the Port Imperial waterfront development in Hudson County.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,500,000,000
• Units: 3,783
• Price Per Unit: $925,192
• Buyer: Craig Solomon - Affinius Capital; Bradford Klatt & Jonathan Kushner - Vista Hill Partners
• Seller: Mahbod Nia - Veris Residential

Craig Solomon leads the investor group that acquired the portfolio, with participation from Affinius Capital and Vista Hill Partners. Mahbod Nia represented Veris Residential in this transaction, which signifies a substantial investment in the multifamily sector across the Northeast region.