Thursday, October 31, 2013

HFF closes sale of multi-housing development site in Neptune, NJ

  
Rendering of Signature Place, 3360 Route 66, Neptune, NJ


 FLORHAM PARK, NJ - HFF announced today the sale of Signature Place, a 25.37-acre, fully-approved multi-housing development site in Neptune, New Jersey.

Kevin O'Hearn
HFF marketed the property on behalf of a partnership between Highview Homes and Chase Partners.  The property sold for an undisclosed amount free and clear of debt. 

The site is located at 3660 Route 66, south of Corporate Drive and west of Jumping Brook Road just off Exit 100 on the Garden State Parkway and in close proximity to the Jersey Shore Premium Outlets. 

Once completed, the development will include 272 luxury apartment units, 8,142 square feet of retail space and associated parking.  Current plans include community amenities such as a 3,792-square-foot clubhouse with fitness center, outdoor swimming pool, tot lots, rain garden, picnic area and two free-standing parking garages. 

Jose Cruz
The HFF investment sales team representing the seller was led by managing director Kevin O’Hearn along with senior managing director Jose Cruz and real estate analyst Marc Duval. 

According to O’Hearn, “HFF is pleased to have played a role in this transaction.  The buyer is getting a fully-approved, extremely well-located site that will be developed into one of the top Class A apartment communities is Monmouth County.”

Highview Homes and Chase Partners are leading real estate development companies with expertise in acquisition, planning, design and construction of multi-housing communities.  Each partner has experience in completing acquisitions and developments throughout New Jersey and the surrounding Tri-State area.

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

Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 |

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