WNY's residential portfolio is spread throughout New Jersey(Cherry Hill, Marlton, Eatontown), Delaware, Pennsylvania andMaryland, and it will boost Kushner's own residential portfolio tomore than 20,000 units. That, in any language, makes it one of thelargest privately owned multifamily owners in the country. Theacquisition will also add 300 staffers to Kushner's existing baseof 500 employees.

"WNY has consistently improved and maintained its portfolio andhas enjoyed high occupancy levels," says Charles Kushner, chairmanof the company that bears his name. "That portfolio includes someof the most desirable apartment communities in their markets."

Kushner also manages over 3 million sf of office, industrial andretail space in several states and has ownership interests in morethan 6 million feet. The company's Westminster Communities divisionis currently building 500 homes in NJ and has 40 other projects invarious stages.