New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Real Capital Solutions Enters Jersey City Market in Partnership with Lamar
A partnership of Real Capital Solutions (RCS) and Lamar Companies has acquired 30 Montgomery, a 16-story, 368,049-square-foot Class A office tower in Jersey City’s Exchange Place submarket. Terms were not disclosed. The property is located along the Hudson Waterfront, among the most transit-connected and fast-growing office markets in the Northeast.
“This is exactly where we want to be investing right now,” said Adam Abeln, chief acquisitions officer at RCS. “Assets like 30 Montgomery are being repriced due to capital markets, not fundamentals. That creates an opportunity to step in at a basis where execution drives returns.”
Cushman & Wakefield’s David Bernhaut, Frank DiTommaso II, Bill Baunach, Mina Shehata, Frank Maresca and John Frisina arranged the sale. The acquisition marks RCS’s entry into the Jersey City office market and its second office transaction with Lamar in the past seven months.
30 Montgomery is 61% leased to tenants including Bluevine Capital, Wayste (Sourgum), Asset Based Lending and Outcomes Matter Innovations.
- ◦Sale/Acquisition
