12/6/2008

PRC Group buys three New Jersey apartment communities

by
Real estate developer and property manager The PRC Group has purchased three apartment communities in central New Jersey.

Holliday Fenoglio Fowler (HFF) arranged $21.38 million in financing for the purchase of the three communities.The three communities contain an aggregate 360 units.

The acquisition includes the following:
- Clifton Arms Apartments, a 64-unit complex at 220-240 Ninth St. in Lakewood.
- Farmgindale Gardens, a 176-unit complex at 1 W. Main St. in Farmingdale.
- Sunset Heights, a 120-unit community at 1130 Sunset Road in Burlington.

The sales price of each community was not disclosed.

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Filed Under: Multi-Family

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