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BLACKWOOD, NJ-Black Horse Investment Associates has sold the 54-unit block it owned in the 60-unit Buttonwood Village, a garden-style residential condominium complex located on Black Horse Pike. Black Horse Investment Associates had owned the property for the last four years.

The buyer was a locally based investment group headed by developer Michael Marke. The sale price and terms of the transaction were not disclosed. Roy Ludwick, a senior associate in the Philadelphia office of the Marcus & Millichap Real Estate Investment Brokerage Co., arranged the transaction.

Rental tenants currently occupy the 54-unit block. According to Marke, the buyer, “the apartment market in Southern New Jersey continues to offer solid investments with tremendous upside potential.”

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