Gebroe-Hammer has finalized the disposition of a 118-building, 2,137-unit multifamily portfolio in Hudson County, N.J., on behalf of a single seller, a private unnamed investor.
In total, the Gateway Portfolio was broken out into six separate packages sold for a combined total of more than $327.8 million. The properties are located throughout Jersey City, West New York, North Bergen, Guttenberg and Union City.
“The Gateway Portfolio in its entirety and as separate packages presented an extremely rare multifamily investment opportunity,” said Nicholas Nicolaou, senior vice president. “It marked the highest concentration of for-sale stabilized assets in Hudson County ever to come to market at a time when asking rents for this apartment submarket are expected to advance upward of 6 percent over the next couple of years.”
The largest of the six packages involved a total of 67 buildings sold for $190.65 million in West New York (47 buildings/993 units), Jerse
