NEWARK-TreeTop Development recently completed the purchase of three rental communities here totaling over 450 apartment homes in Essex County. The transactions are representative of a new investment strategy implemented by the locally based developer and owner to take advantage of today’s market conditions by purchasing high-performing and well-located HUD apartment assets. 

The aggressive philosophy has enabled TreeTop to grow its portfolio of rental apartments in Essex County to over 1,500 units at a time when many property owners have slowed pursuing multifamily investments. “Economic concerns and challenges over the past few years have certainly created new opportunities in the real estate industry for multifamily property owners and investors,” says Adam Mermelstein, a TreeTop principal. “We’re consistently monitoring industry conditions and identifying strategies that could strengthen our presence in local markets and add value-laden properties to our portfolio,” he tells “Purchasing high-quality HUD apartment assets is one of these avenues.”

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