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EAST ORANGE, NJ-As anticipated, a wave of bankruptcy and note sales is now hitting the multifamily investment market at a time when supply is short and demand is high for virtually all apartment-rental building classes, according to Gebroe-Hammer Associates. Most recently, the Livingston-based firm closed a distressed sale here that involved a multifamily portfolio in bankruptcy. The portfolio included four buildings with 270 total units valued at $10.5 million, as well as a $1.3-million note sale of 50 units within the city.

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