Property management is being provided by Hirschfeld ManagementInc. The seller is NJ Cherry Hill LLC of New York City. RudyardPorter, formerly of Cushman and Wakefield's Philadelphia officerepresented the seller. Senior debt financing was provided byEurohypo AG and Apollo Real Estate Advisors L.P. Holliday FenoglioFowler LP represented DIG-HP and arranged the Eurohypo/Apollofinancing through its offices in New York City and Washington, DC.Sources could not further comment on the identity of the seller bydeadline.
The Landmark Apartments is a 544-unit multifamily rentalcommunity comprising two 18-story high-rise buildings and 21,647 sfof commercial space. The Landmark, located at 1900 Frontage Rd.,was constructed in 1969 and is located on 24 acres of land.
Jeffrey Hirschfeld, president of Hirschfeld Properties tellsGlobeSt.com that they believe Cherry Hill and the surroundingvicinity is "a great market with about 95% occupancy." He furthernotes that they see upside potential with this particulardevelopment."
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