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| 10--14 Glencar Avenue, New Rochelle, NY |
FLORHAM PARK, NJ, May 20, 2015 – Holliday Fenoglio Fowler,
L.P. (HFF) announced today that it has closed the $7.475 million sale of three
apartment properties totaling 65 units in New Rochelle, New York.
HFF marketed the properties on behalf of the seller, JEM
Holdings. Virginia City, LLC purchased
the offering and assumed the existing mortgage.
The three apartment buildings are located at 347 Huguenot Street, 778 Main Street and
10-14 Glencar Avenue.
All of the
properties provide easy access to public transportation and major thoroughfares
and are centrally located within the New Rochelle market.
The portfolio has a mix of 39 one-bedroom units, 24
two-bedroom units and 2 three-bedroom units and all three properties are 100
percent leased. 778 Main Street also includes one fully-leased ground floor
retail space.
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| 347 Hugenot Street New Rochelle, NY |
The HFF investment sales team was led by associate director Stephen Simonelli along with senior managing director Jose Cruz, managing director Kevin O’Hearn and associate director Michael Oliver.
“The New Rochelle portfolio represented the opportunity to
acquire three well-located apartment communities within one of Westchester
County’s strongest submarkets.
"The seller was able to take advantage of the
significant desire for multi-housing properties in Westchester County, while
the buyer will be able to add substantial value to the portfolio,” said
Simonelli.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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