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OneWall Trades East Orange Workforce Portfolio for $53M
OneWall Communities, a Stamford, CT-based owner and operator of transit-oriented and suburban lifestyle-workforce housing, sold a 301-unit portfolio of five multifamily rental properties in East Orange, NJ, for $53 million.
The CBRE team of Jeffrey Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Richard Gatto, Fahri Ozturk, Travis Langer and Zachary McHale, along with Nat Gambuzza and Timothy Blashford, represented OneWall. The CBRE team also procured the undisclosed buyer.
The properties, acquired by OneWall from 2017-2018, include market-rate workforce housing in close proximity to transit options and to abundant employment. OneWall repositioned and upgraded the properties.
“We identified the long-term growth trends for workforce housing in East Orange and the greater Newark area when we launched OneWall in 2010,” said Nate Kline, OneWall principal and CIO.
Dunne added, “The market demand for lifestyle-workforce housing product in transit-oriented markets is stronger than ever and is anticipated to continue for the foreseeable future.

