**Inland Affiliate Acquires NJ Apartments for $131M**
JLL Capital Markets has arranged the $131.5-million sale of Summit Court, a 393-unit luxury apartment community in Union, NJ. JLL represented the seller, a joint venture between Fidelco Realty Group and Diversified Properties.
Mark Cosenza, Senior Vice President of Inland Real Estate Acquisitions, LLC, facilitated the transaction on behalf of the buyer, an affiliate of The Inland Real Estate Group of Companies, Inc. He was assisted by Michael A. Wilson and Gina R. LaMantia of Equis Law Group, LLC.
Built in 2018 and 2023, Summit Court is located at 450 Clermont Terrace and consists of 210 one-bedroom and 183 two-bedroom units. Each apartment features nine-foot ceilings, smart lock systems, stainless steel appliances, and full-size washers and dryers.
“Summit Court is an optimal living destination for residents,” said Cosenza. “With seamless access to major highways and a plethora of shopping, dining, and entertainment options, this community’s desirable location in Union Township, combined with luxury resort-style finishes, makes this the type of multifamily property we continue to seek for acquisition.”
About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax (www.griffintax.com) and REVVED Up Accounting (www.revvedupaccounting.com). In addition, Steve founded Madison Avenue Technology (www.madisonave.tech). With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.
