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| Pheasant Hollow Apartments, 1912 Pheasant Hollow Drive, Plainsboro, NJ |
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| Jose Cruz |
FLORHAM PARK, NJ - HFF announced today that
it has closed the sale of Pheasant Hollow, a 439-unit, garden-style,
multi-housing community in Plainsboro, New Jersey.
HFF marketed the property on
behalf of the sellers, Angelo Gordon & Co. and Vantage Properties. Harbor Group International purchased the
asset free and clear of existing debt.
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| Andrew Scandalios |
Pheasant Hollow is located at 1912
Pheasant Hollow Drive within three miles of Route 1 and two minutes from
downtown Plainsboro.
Situated in the
affluent Princeton submarket, the property is 91 percent leased and includes
studio, one- and two-bedroom units averaging 759 square feet each.
Community amenities include a fitness center,
outdoor adult and children’s pools, and basketball and tennis courts. Additionally, the property is adjacent to
Meadows at Middlesex, an 18-hole public golf course.
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| Kevin O'Hearn |
The HFF investment
sales team representing the seller was led by senior managing directors Jose
Cruz and Andrew Scandalios, managing directors Kevin O’Hearn
and Jeff Julien and associate director Michael Oliver.
Angelo, Gordon
& Co. is a privately held investment advisor specializing in alternative
investments such as real estate, distressed debt and private equity. The firm
was founded in 1988 and currently manages approximately $25 billion.
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| Jeff Julien |
Founded in 2005,
Vantage Properties is one of the leading investors in New York residential and
retail properties.
Harbor Group
International, with a portfolio valued at approximately 3.8 billion, has been
acquiring properties for profitable commercial real estate investing since
1990. HGI currently owns more than 10.5
million square feet of commercial properties and in excess of 24,500 apartment
units.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post
Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990
| Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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