Kushner Sells Apartments ; 17,628 Units Go for $1b
The Record, Bergen County, NJ › June 29, 2007
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Summary
Kushner Cos. on Wednesday sold 17,628 apartments for $1 billion the largest sale of residential real estate in New Jersey history as Kushner shifts its focus to the hot Manhattan real estate market.
Most of the portfolio was purchased by a joint venture composed of AIG Global Real Estate Investment Corp. of New York and an affiliate of Morgan Properties of King of Prussia, Pa., the largest privately held residential property firm in the greater Philadelphia area.See the full content of this document
Extract
Kushner Sells Apartments ; 17,628 Units Go for $1b
The venture's purchase consists of 86 apartment complexes totaling 16,784 units spread out across five states. Twenty percent of these complexes are located in North Jersey. The rest are in southern New Jersey and Philadelphia; the Jersey Shore; ...
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