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Northern NJ Apartments Trade for $84M
CBRE closed the $84.2-million sale of Gaslight Commons, a 200-unit luxury apartment community in South Orange, NJ. The firm’s Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the owner and procured the buyer, Pacific Urban Residential LLC.
Dunne said, “Gaslight Commons has a fantastic location adjacent to the train station in the highly desirable town of South Orange. There are many high-quality restaurants and entertainment venues in the walkable downtown along with numerous parks and recreational outlets that are ideal in the current environment. Schools in South Orange are also highly rated which is attracting young families that are moving to the suburbs.”
Pride added, “Pacific Urban will continue to focus on making Gaslight Commons a premier community by making enhancements to the unit finishes, common areas and outdoor space.”
Built in 2002, Gaslight Commons is adjacent to an NJ Transit train station.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
