New Jersey luxury apartments traded

Limited liability company named as buyer
Published on Jan 9, 2008

Two luxury rental apartment complexes in Edgewater, N.J., have traded for an undisclosed amount, announced brokerage Cushman & Wakefield Inc., which orchestrated the transaction. GID Investment Advisers LLC purchased the properties from an unidentified client represented by BlackRock. The assets, Mariner's Tower and Mariner's Cove, include 178 units and 44 units, respectively. Mariner's Tower, built in 2000, is a 17-story, high-rise. Mariner's Cove, built in 1997, comprises townhouse units. Both located along River Road on the Hudson River waterfront, the buildings include studios; one-, two- and three-bedroom residences; and lofts. Community amenities include indoor and outdoor swimming pools; a whirlpool; sauna and steam room; fitness centers; tennis courts; a gazebo; and covered parking. Occupancies of the properties were not disclosed. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com. ...

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