In announcing the separate transactions, Simon comments, "current market conditions represent a scenario for cautious acquisitions. Market fundamentals are at a point now where investing in multi-tenant commercial and residential properties has become highly attractive for investors.
"We believe that opportunities exist to couple today's favorable financing with 'old-fashioned' value-added management," Simon continues. "Our firm has recently raised a significant amount of new capital that will enable us to close on future deals that meet our investment criteria."
Simon Holdings, based in Linden, focuses on acquisitions in the $2 million to $15 million range and also develops and manages its own properties. The company's current portfolio includes such residential properties as Keyport Village in Keyport, NJ and Atlantic Village in Atlantic Highlands, NJ; as well as West End Apartments in Bethlehem, PA and office/industrial parks in Union, Essex and Mercer counties in New Jersey.
Simon recently announced his company is currently targeting new acquisitions in the New Jersey and Pennsylvania marketplaces.
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