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JLL Closes $114M Sale for Kushner Companies
JLL Capital Markets closed the $114.45-million sale of the 360-unit Prospect Place Apartments in Hackensack, NJ. The team of Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver, J.B. Bruno and Michael Kavanagh represented the seller, Kushner Companies, to complete the sale to the buyers, Khosla Capital LLC and DKJ Equity LLC.
Khosla Capital LLC, representing the buyers, was led by Raman Khosla, CEO and founder. “We are excited to be a part of a community that continues to expand, and to enhance and add value to a great asset,” said Khosla.
“The in-fill location and upside in these assets drove very strong interest from the investment community,” said Cruz. “Multi-housing demand is stronger than it was pre-COVID.”
Built in 1995 and 2005, Prospect Place Apartments was recently renovated, with updated units including in-home washers and dryers, hardwood-style flooring, stainless steel appliances and granite countertops.
