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Kamson Buys Hamilton MF in $48M 1031 Exchange

The sale included 166 of 179 units from the seller, six units from third parties and an agreement for the seller to construct an additional 63 units on the property for the purchaser.

Justin Lupo, sales associate, The Kislak Company, with Montage at Hamilton, Hamilton Township, Mercer County, NJ (Photo composite) Justin Lupo, sales associate, The Kislak Company, with Montage at Hamilton, Hamilton Township, Mercer County, NJ (Photo composite)

HAMILTON TOWNSHIP, NJ—The Kamson Corporation, one of the largest private owners of multifamily properties in the Northeast, is acquiring Montage at Hamilton, a recently-constructed luxury active adult community in Hamilton Township, Mercer County, NJ, for $48.155 million. The Kislak Company marketed the property on an exclusive basis on behalf of Sharbell Hamilton, an affiliate of Sharbell Development Corporation, developer of the property. Sales associate Justin Lupo represented the seller and chief operating officer Jason Pucci and senior vice president Jeffrey Wiener together represented the purchaser, an affiliate of Kamson. The purchaser completed an IRC Section 1031 Exchange with the purchase.

Montage at Hamilton was built in phases between 2008 and 2014 as an active adult luxury condominium. Following construction, the seller retained most of the units, which are operated as rentals. The sale included 166 of 179 units from the seller, six units from third parties and an agreement for the seller to construct an additional 63 units on the property for the purchaser.

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Steve Lubetkin

Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].

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