NEW JERSEY — Tag Investment Properties has sold a portfolio totaling 519 units throughout Bergen and Hudson counties in New Jersey for $94 million. The properties were constructed between 1920 and 1980. The unit mix includes 61 percent one-bedroom, 35 percent two-bedroom and the remaining units as studios and three-bedroom apartments.
Tuli Realty acquired the properties located in East Rutherford, Cliffside Park, Palisades Park, Lyndhurst, Garfield and Jersey City, while Sher Management purchased an asset in Kearny. The portfolio was 97 percent occupied at the time of sale.
Cushman & Wakefield’s Niko Nicolaou, Ryan Dowd, Michael Guerra, JP Hohl and Alexandria Ebers represented the seller and procured the buyers. Brad Domenico and Frank Stanislaski, also with Cushman & Wakefield, advised on securing the financing for the transactions.