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The second and third generation, family-run property owners are selling out their kids don't want to run the business the way their parents and grandparents did.
Earlier this year, Hackensack, NJ-based Alfred Sanzari Enterprises sold two garden-style apartment communities—Riverside Terrace in Bogota, NJ to the Tournambe Family and Queen Anne in Hackensack, N.J. to JC Realty—to leverage the successful 1031 exchange.