Cammeby’s buys New Jersey apartment portfolio for $228m

Cammeby’s buys New Jersey apartment portfolio for $228m

Published at: 2019-09-27 15:17 | Author: CIJ USA
Cammeby’s International has acquired a six-property portfolio of apartment complexes in northern New Jersey for a combined $228m. The package totals more than 1,800 units. Built between 1948 and 1950, the properties are located in the Essex County townships of Bloomfield and Nutley and the Bergen County boroughs of Maywood and Ridgefield. Capital One provided a series of seven-year adjustable-rate loans with a five-year extension option. The loans feature initial four-year interest-only periods followed by 30-year amortization schedules.

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