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JLL Closes Sale of Meadowlands Apartments for Mesirow
JLL Capital Markets closed the sale of The Union at Lyndhurst, a 328-unit, Class A, mid-rise rental community in Lyndhurst, NJ. The team of Jose Cruz, Michael Oliver, JB Bruno, Kevin O’Hearn and Steve Simonelli marketed the property on behalf of Mesirow Institutional Real Estate Direct Investments. Pacific Urban Investors acquired the asset.
Situated at 1301 Wall Street West, the Union is located in the Meadowlands region just off of the intersection of Route 17 and Route 3, less than seven miles from the Lincoln Tunnel entrance for direct access into Midtown Manhattan.
“We had great interest on Union at Lyndhurst given its location and quality,” said Cruz. “Investors liked the access to NYC specifically as well as the lack of multifamily rentals in the immediate area. The demand from the institutional investor universe for high-quality multi-housing in the New York area is accelerating going into the year end.”
- ◦Sale/Acquisition
