Beradia arranged the sale of Marc Hampton Apartments, a 124-unit apartment community in the Monmouth County community of Matawan, NJ. Deal terms were not disclosed. Senior managing director Nat Gambuzza and senior director Trevor Fiebel of Berkadia Morristown led the transaction on behalf of the purchaser. Colliers’ Joseph Garibaldi, Thomas Walsh and Nick Vanderslice represented the seller.
Marc Hampton Apartments sold to Pentaurus Properties, a New Jersey-based family office. The property was owned by the original developer family since its construction in the 1960s.
“Value add, garden apartment communities are the most sought-after product in our space,” said Gambuzza. “This type of product, with good bones and an ability to modernize to today’s standards, will remain the area where investors seek to place capital.”
Located at 171 Matawan Ave., he garden-style community is comprised of 11 two-story buildings including a mix of one- and two-bedroom layouts with semi-private entrances. The 10-acre parcel includes 151 surface parking and 21 income generating garages along with a revenue generating common laundry facility.
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