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

99 Gorge Road
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This MultiFamily property located in NJ was sold for $130,000,000 about 2 years ago. The brokers of the deal were Jake Moore, Mark Belenky, Gerard Quinn, Michael Klein, Matthew Pizzolato, Steve Simonelli, Michael "Mike" Oliver, Jose Cruz, and JB Bruno

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.

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Deals
  • Location
    99 Gorge Road, Edgewater, New Jersey 07020, United States99 Gorge Road, Edgewater, New Jersey 07020, United States
  • Sale Price
    $130,000,000$130,000,000
    $824 PPSF$824 PPSF
  • Area
    157,687 SF157,687 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    9 Brokers, 1 Agency, 1 Lender9 Brokers, 1 Agency, 1 Lender

Agents

Mark Belenky

Mark Belenky

Deals2
Sold$201M

Jake Moore

Jake Moore

Deals2
Financed$130M

Gerard Quinn

Gerard Quinn

Deals19
Financed$870M

Matthew Pizzolato

Matthew Pizzolato

Deals29
Financed$1B

Michael Klein

Michael Klein

Deals43
Financed$1.3B

Steve Simonelli

Steve Simonelli

Deals29
Financed$2.9B

Jose Cruz

Jose Cruz

Deals66
Financed$5.6B

Michael "Mike" Oliver

Michael "Mike" Oliver

Deals29
Financed$2.1B

JB Bruno

JB Bruno

Deals20
Financed$1.6B

Agency

JLL

JLL

Agency
Deals5579
Volume$332.6B

JPMorgan Chase

JPMorgan Chase

Lender
Deals167
Volume$ 2.2T

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Deal Summary

SALE 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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