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Spirit Bascom Makes 2nd Hoboken Buy in 6 Months
Spirit Bascom Ventures, a partnership between Stamford, CT-based Spirit Investment Partners and Irvine, CA-based The Bascom Group, has acquired a 30-unit apartment building at 204 Grand Street in Hoboken, NJ. The $15.5-million deal marks Spirit Bascom’s second Hoboken acquisition in the past six months.
“This deal fits perfectly with our strategy of acquiring properties in transit-connected urban and suburban neighborhoods that offer greater relative affordability,” said Spirit’s Scott Zwilling. “We feel Hoboken will continue to flourish as renters seeking a high quality of life, short commutes and more reasonably-priced housing options than Manhattan move into the neighborhood.”
Built in 2000, 204 Grand is a six-story brick building, eight blocks from the Hoboken PATH station.
CBRE’s Nat Gambuzza and Manny Sanghera represented the seller. Jamie Leachman of HFF arranged the acquisition financing with Citizens Bank.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
