FLORHAM PARK, NJ – November 2, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Alexan Riverdale, a 212-unit, mid-rise apartment property in the Morris County, New Jersey, community of Riverdale.
HFF marketed the property on behalf of the seller, a global real estate investment manager. Inland Real Estate Acquisitions, Inc. (“Inland”) facilitated the purchase of the community. In addition, HFF worked to secure acquisition financing on the new owner’s behalf.
Alexan Riverdale is situated on 15 acres at 6000 Riverdale Road near the intersection of Interstate 287 and Route 23, providing access to multiple shopping and dining amenities as well as local employment centers in Wayne, Parsippany, Morristown and Midtown Manhattan. Completed in 2010, the 98.6-percent-leased property features one- and two-bedroom units averaging 1,033 square feet with luxurious interiors, modern amenities and high-end construction. Community amenities include a resort-style swimming pool, grilling area, fire pit with lounge seating, two landscaped courtyards, fitness center with yoga/spin studio, lounge with billiards, game room, business center and garage parking.
The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn and directors Stephen Simonelli and Michael Oliver.
“We were thrilled to work with Joe Cosenza and the Inland acquisitions team,” stated Cruz. “Inland Real Estate Acquisitions has facilitated more than $43 billion in commercial real estate across 49 states.”
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at inlandgroup.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
HFF Senior Managing Director
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