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.

Sub Markets

Property Sectors


New York & Tri-State  + New Jersey  + Apartments  | 

Universe Holdings Makes East Coast Debut with NJ Townhome Deal

Universe Holdings has made its first East Coast investment with the $60-million acquisition of Mariners Cove, a 226-unit townhome community in Toms River, NJ. The acquisition coincides with the opening of the firm’s New York office under the direction of Aaron Manoucheri. 

Los Angeles-based Universe plans to acquire several thousand multifamily units on the East Coast over the next 24-36 months.“We are looking to buy large suburban value-add and core-plus assets and portfolios with a few hundred units or more in order to build scale in a relatively short period of time,” said Manoucheri.  

He continued, “The ability to enter the market with the acquisition of an irreplaceable low-density, bay-front community such as Mariner’s Cove is quite an accomplishment for us and signals our intention to build an East Coast portfolio on par with our holdings in Southern California.” 

CBRE’s Spencer Yablon represented both Universe and the seller.


Inside The Story

Universe HoldingsCBRE’s Spencer Yablon

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦Sale/Acquisition
New call-to-action