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

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.