Invesco Real Estate Picks Up New-Construction Apartments in Union Township
CBRE closed the sale of Canter Green, a 153-unit Class A apartment community located in Union Township, NJ, for an undisclosed sum. The CBRE team, led by Jeff Dunne, Stuart MacKenzie, Zach McHale and Travis Langer, represented the seller, RMS Companies, while also procuring the buyer, Invesco Real Estate.
Completed in 2021, Canter Green is situated in a mature, infill neighborhood 40 minutes from Manhattan, and within a mile of the Garden State Parkway. The property benefits from a 30-year PILOT and has enjoyed robust leasing activity, averaging over 16 leases per month during lease-up.
“Canter Green is an exceptional, high-quality asset with one of the best amenity packages that we’ve seen, especially for a smaller suburban apartment community,” said Dunne. “The property leased up very quickly, demonstrating the resilient renter demand for Class A+ multifamily apartments in the metro New York suburbs, which bodes well for Invesco Real Estate’s investment.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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