AEW Capital Management acquired The Metropolitan, a 128-unit luxury apartment and retail property, in Hoboken, N.J.
The value of the transaction was approximately $37 million.
Clinton Street Apartments LLC sold the property, located at 1300 Clinton St.
The Metropolitan maintains was 98 percent occupied at the time of sale, and tenants enjoy a gated garden and 24-hour fitness center. The 4,000-square-foot retail component was fully leased to four tenants, including Ganache, at closing.
Cushman & Wakefield is a privately held real estate services company.
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