(Read more on the multifamily market.)
BLACKWOOD, NJ-A joint venture group led by Empire RealtyInvestments has closed on the acquisition of the 980-unit gardenapartment community at 1501 Little Gloucester Rd. in this SouthJersey township. The final sale price of $51 million factors out tojust more than $52,000 per unit.
The seller was Fountainview Village LP, a local partnership.With the change in ownership, the name of the community is havingits name changed from Fountainview Village to Autumn RidgeApartments. A capital improvement program is also on tap for the25-year-old complex.
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