New Jersey apartments sell for $11M

A family trust has sold two multifamily properties in Hawthorne, N.J., for a total price of $11 million.

The assets -- located at 144 Diamond Bridge Ave. and 644 Lafayette Ave. -- comprise a total of 83 units, and include laundry facilities and parking.

Neither the buyer's name nor the seller's name was disclosed.

At the time of closing, both properties were fully occupied, and the new owner plans to upgrade the units.

Boca Raton deal tops $27 million

A limited liability company recently purchased the Meridian Commercial Office Buildings in Boca Raton, Fla., for $27.2 million.

Granite Meridian LLC, an institutional investment fund managed by BlackRock Inc., bought the 131,680-square-foot, two-building property from Meridian Commercial Properties.

The buildings, located in the Arvida Park of Commerce, were 100 percent leased on long-term leases to LexisNexis and Cross Country Health Care at the time of sale.

Northern Indiana apartment sale

Elad National Properties boosted its presence in northern Indiana with the recent purchase of Lake Pointe Apartments in Portage, which is also a Chicago suburb.

The 192-unit community, sold by Pedcor Investments, is Elad National's third acquisition in the region.

Elad paid $19.8 million for the property.