G-H senior vice president David Oropeza was behind the six-deal package, representing both the sellers and the buyers, local investment groups that were not identified. Oropeza was assisted by vice presidents David Jarvis and Steve Tenenbaum. The seller in the transaction was also represented by Richard Kelin of the West Orange, NJ law firm of Feinstein, Raiss and Kelin.
Oropeza had originally sold the six multifamily properties to the seller. He describes the buyers as "three longtime clients to whom I have sold a number of buildings over the years. The G-H trio also assisted the buyers in obtaining financing.
"Following the completion of a record $64-million month last July, one might think that we'd take a breather," Gebroe says. "But this certainly wasn't the case, as this most recent multi-building deal demonstrates."
Five of the properties changing hands are in East Orange, which is located just northwest of Newark. They include two four-story mid-rise buildings, a six-story building, a nine-story elevator building and a two-story garden apartment complex. The sole property in Newark is a five-story art deco elevator building at 25 Van Velsor Place in the Weequahic section of the city.
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