One Wall Partners purchased three apartment properties in New Jersey totaling 217 units. The acquisitions are located at 742 Park Avenue in East Orange, 103 Chancellor in Newark and 25 Van Velsor in Newark. All three assets are transit-oriented workforce housing options that provide residents with accessible public transportation to New York metro area job centers. Terms of the sale were not disclosed. One Wall Partners’ portfolio currently includes 39 buildings with 1,917 units under ownership and management.
“Northern New Jersey continues to be a smart and logical place for the expansion of workforce housing in the tri-state area,” said Nate Kline, chief investment officer and principal at OWP. “Our strategic partnerships with Gebroe-Hammer and others continue to help us accelerate our investment pace and we see a long runway of opportunity now and into the future. We are thrilled with our momentum and growth here and are committed to expanding our asset base in Northern New Jersey.”
