The identity of the seller was not released. However, the MiryRun property had been listed among the holdings of the River Edge,NJ-based Tower Management and is currently still listed on thatcompany's web site. With the acquisition, the Fort Lee-based Orbachnow has 460 residential units in Hamilton Twp., and a total or morethan 1,000 units in the Greater Princeton corridor. The latestacquisition here follows the purchase of the 316-unit VictoriaApartments nearby, in 2004.

"Four years ago, we came to Hamilton, and we were instantlyattracted to the area," says Meyer Orbach, president and CEO of theOrbach Group. "We're excited to expand our stake here. We will workwith the residents of Miry Run to make all necessary upgrades andenhance the property for everyone."

Orbach terms those pending upgrades "minor." At the time ofclosing, all units at Miry Run Apartments, a mix of one-bedroom andtwo-bedroom residences, were occupied.