And the King of Prussia, PA-based Morgan has hired Gebroe-HammerAssociates, Livingston, NJ, to find a buyer for the properties.That firm's Joseph Brecher, SVP, and sales associate Steven Follmanare handling the assignment.

"For multifamily investments, Monmouth County is a hotbed ofactivity because of the long-term inherent value associated withowning property in a seaside community," Brecher says. "Thedisposition of a 14-acre portfolio of this size is rare in today'smarket, which is characterized by a lack of for-sale product in allclass categories."

The largest of the properties is the 92-unit Glen Ellen at 73Cedar Ave. here. A tenth of a mile away is the four-building,72-unit Edgewater Commons on Green Ave., and at 752 Ocean Ave.directly across from the beach is the 44-unit Ocean Terrace. Thefourth property is the two-story, 20-unit Monmouth Beach Village at108 S. Cookman Ave. on this city's border with Monmouth Beach.