Thursday, July 27, 2017

HFF closes sale of two apartment towers in Newark, NJ

Jose Cruz
 FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Addison, two 15-story apartment towers totaling 219 units in Newark, New Jersey.

HFF marketed the property exclusively on behalf of the seller, Azure Partners LLC.

The Addison is located at 380 and 402 Mount Prospect Avenue in the Forest Hill section of Newark.  

Both towers are conveniently located approximately ten minutes from downtown Newark and 25 minutes from Manhattan via the Holland Tunnel and are adjacent to a host of retail options, public transportation, a county park and major highways. 

The Addison offers a variety of studio, one-, two- and three-bedroom units ranging from 700 to 1,750 square feet.  The property is 99 percent occupied.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and directors Michael Oliver and Stephen Simonelli.

“We continue to see high demand for infill multifamily properties throughout the state with significant value,” stated Cruz.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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