Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PISCATAWAY, NJ-The Kushner Cos., based in Florham Park, NJ, has acquired the 214-unit Tanglewood Terrace, a rental apartment complex located on 13.5 acres in this Middlesex County community in Central New Jersey. Neither the buyer nor the sale price were disclosed.

The latest acquisition adds to Kushner’s residential portfolio, which currently stands at more than 20,000 units in New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts and Florida. The one- and two-bedroom units are configured in a layout with a total of 19 buildings.

The heavily landscaped grounds encompassing the property include an outdoor pool. Tanglewood Terrace, located at 42 Lenox Court, is currently 100% occupied, but Kushner is planning to upgrade the individual apartments as they turn over. The property is located not far from I-287, the Garden State Parkway and the New Jersey Turnpike.

“Tanglewood Terrace is an established rental community that has had a successful leasing history of more than 20 years,” according to Richard Stadtmauer, managing director at Kushner. “At the same time, the property’s rents are currently undervalued. That, coupled with its location in the strong Middlesex County market, made this a very good investment opportunity for us.”

Besides its apartment portfolio, Kushner also manages more than three million sf of office, industrial and retail space and has an ownership interest in more than six million sf of commercial real estate. Its construction division, Westminster Communities, also based in Florham Park, develops more than 500 residential units a year. Westminster currently has some 40 projects in various stages of approval and development, mostly in New Jersey and New York, including active adult communities, multifamily, urban mixed-use redevelopments and single-family homes.

Besides its ownership, development and construction functions, Kushner also has affiliated businesses involved in banking, insurance, real estate brokerage and technology.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.