$51M Apartment Buyers HP and Altman Are ID'd

(Read more on the multifamily market.)

BLACKWOOD, NJ-When it was reported that the 970-unit Autumn Ridge Apartments had been sold for $51 million, the new owner was identified as a partnership led by Empire Realty Investments. Now, GlobeSt.com has learned, the principle partners in the joint venture are the Fort Washington, PA-based Altman Management Co. and the White Plains-based Houlihan Parnes.

The new ownership is listed at HP-Altman Autumn Ridge LLC, of which Empire Realty Investments is said to hold a minority interest. And the final sale price has been adjusted upward a bit, to $51.5 million. The partnership acquired the 53-acre property, consisting of 22 three-story and four-story garden-style buildings, from Fountainview Village LP, a local group. Fountainview Village was the former name of the complex.

And the sale was orchestrated for both sides by the Kislak Co. of Woodbridge. Robert Holland, that firm’s SVP and co-managing director, represented the seller, and vice president Matt Weilheimer spoke for the buyer.