A joint venture between Fidelco Realty Group and Diversified Properties Summit Court has sold a 393-unit luxury apartment community located in Union, N.J., for $131 million.
JLL represented the seller, and Inland Real Estate Acquisitions facilitated the transaction on behalf of the buyer, an affiliate of The Inland Real Estate Group of Companies.
Summit Court, located at 450 Clermont Terrace, offers residents convenient access to major transportation routes and urban amenities. The property is situated within proximity to the Garden State Parkway, Route 9 and Interstate 95, providing connectivity throughout New Jersey and the greater tri-state area. Residents benefit from nearby employment hubs such as Newark Liberty International Airport, Seton Hall University and Newark Beth Israel Medical Center, as well as diverse shopping opportunities.
Summit Court is a newly constructed, two-phase luxury apartment community. Built in 2018 and 2023, the community comprises
