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JV Acquires Luxury Rentals in Union City
A joint venture of Maya Capital Partners (MCP), Harbor Group International and an international family office has acquired an 80-unit, luxury rental apartment building in Union City, N.J. for $31 million. Known as the One23 Apartments, the property was built in 2018 and features high-end finishes and amenities, according to MCP.
“This acquisition is consistent with MCP’s strategy to increase its holdings of stabilized assets in core markets,” said Samir Mistry, managing partner of MCP. The firm is focused on rapidly increasing its multifamily holdings in major markets across the Northeast, with a focus on the tri-state area.
Currently 100% leased, the One23 Apartments are less than two miles from Manhattan in rapidly developing Union City.
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