Robert Ploshnick of Gebroe-Hammer Associates represented the seller RCP General, in the transaction. Details of the sale, including the price, were not released.
"The Riverside Tower Apartments has undergone a number of capital improvements since 1999," according to Richard Stadtmauer, managing partner and vice chairman for Kushner, whose portfolio now totals some 24,000 units throughout the Northeast and in Florida. "In order to maximize the value of this prime property, we are planning substantial renovations to the exterior and interior."
The buy marks Kushner's second in Middlesex County this year. Earlier, the company added the 214-unit Tanglewood Terrace garden apartment complex in nearby Piscataway to its portfolio.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
