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.

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"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."

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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.

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Orbach's growing multi-state portfolio includes units in severalmarkets in New Jersey including, in the Princeton area, Ewing Twp.Other holdings include properties in markets ranging fromHackensack in the north, to Lakewood in the state's mid-section andSouth Jersey's Cherry Hill.

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The Orbach Group also recently made its initial move across theHudson River to Manhattan. As reported by GlobeSt.com, the companybought13 buildings with 254 units and a number of storefronts along West49th Street opposite World Wide Plaza.

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