BETHESDA, Md., Oct. 12, 2021 /PRNewswire/ -- Walker &
Dunlop, Inc. announced today that it completed the
$29,750,000 sale of 333
Central Avenue, a 70-unit, Class A multifamily property in
Westfield, New Jersey, located
approximately 15 miles southwest of Manhattan. Built in 2017, the four-story
property is considered the largest and most visible apartment
community in Westfield's downtown
neighborhood.
Walker & Dunlop's Thomas
Walsh and Joseph
Garibaldi represented the sellers, Claremont
Development and The Hampshire Companies, in the transaction to the
buyer, Rockwood Capital, LLC.
Mr. Walsh commented, "Institutionally developed, owned, and
maintained, 333 Central Avenue is Westfield's highest-quality luxury rental
property. Although development along the Raritan Valley Train Line
is rapidly increasing, the majority of competing assets are
privately owned by generational-focused investors. Rockwood Capital
saw a tremendous opportunity to acquire an institutional-caliber,
boutique transit-oriented development asset in one of New Jersey's trophy bedroom communities along
a high barrier to entry transit route."
333 Central features best-in-class unit interior finishes and
amenities, including a modern community room, 24-hour fitness
studio with Pilates, yoga, and fitness on demand, a package
concierge, rooftop terrace, direct-access secured parking garage,
and a dog walk and pet-washing facility. The property sits directly
across the street from the Westfield Train Station, which registers
the highest ridership of any station on New Jersey Transit's
Raritan Valley Line. Downtown Westfield is one of the most
appealing districts for entertainment, shopping, and restaurants,
making 333 Central highly desirable for residents seeking a live,
work, and play lifestyle.
Walker & Dunlop is a leader in multifamily property sales,
having completed $4.74 billion in
property sales volume in the first half of 2021. The firm was also
the top provider of capital to the U.S. multifamily market,
originating $31 billion in
transactions and lending over $24
billion for multifamily properties in 2020.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of
capital to the multifamily industry in the United States and the fourth largest
lender on all commercial real estate including industrial, office,
retail, and hospitality. Walker & Dunlop enables real estate
owners and operators to bring their visions of communities — where
Americans live, work, shop, and play — to life. The power of our
people, premier brand, and industry-leading technology enables us
to meet any client need – including financing, research, property
sales, valuation, and advisory services. With over 1,000 employees
across every major U.S. market, Walker & Dunlop has
consistently been named one of Fortune's Great Places to Work® and
is committed to making the commercial real estate industry more
inclusive and diverse while creating meaningful social,
environmental, and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.