Owner/Manager Sells Apartment Complex and Acquires New Apartment Complex

North America - United States | North America | United States - New Jersey | United States - New York

An owner/manager of multifamily residential properties sold a 144‐unit apartment complex in Mercer County, New Jersey. Our firm represented the owner/manager.

Our firm represented the same owner/manager in a simultaneous acquisition of a 92‐unit apartment complex in Orange County, New York. The transaction included a collateral swap under an existing multi‐property credit facility owned by Freddie Mac. The acquired property included low-income housing funded by a Housing Trust Fund Corporation (HTFC) grant, New Jersey Housing and Mortgage Finance Agency (NJHMFA) financing and Low-Income Housing Tax Credits (LIHTC), as well as required approval by both the HTFC and HMFA. 

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