FM Ferrari Investments Purchases Property At 444 Lincoln Hwy Woodbridge Township For $15.7M

The property involved in this transaction is located at 444 Lincoln Highway, Woodbridge Township, in the Afton market. The sale was completed for a total amount of $15,700,000, which breaks down to $327,000 per unit for the 48-unit luxury multifamily asset. This fully leased, three-story apartment building was constructed in 2018 and offers a transit-oriented location, within walking distance to MetroPark Station.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,700,000.00
• Address: 444 Lincoln Hwy, Woodbridge Township
• Market: Afton
• Buyer's Name: FM Ferrari Investments
• Seller's Name: Adoni Property Group
• Seller's Representatives: Jordan Sobel (Cushman & Wakefield), Andre Balthazard (Cushman & Wakefield), Andrew (Andy) Merin (Cushman & Wakefield), Andrew "Andy" Schwartz (Cushman & Wakefield), Brian Whitmer (Cushman & Wakefield)
• Units: 48
• Year Built: 2018

This transaction was facilitated by a team of representatives from Cushman & Wakefield, including Jordan Sobel, Andre Balthazard, Andrew Merin, Andrew Schwartz, and Brian Whitmer, who successfully represented the seller, Adoni Property Group, while procuring the buyer, FM Ferrari Investments. The transaction involved a luxury multifamily asset that is fully leased, highlighting the demand for such properties in the highlighted market.