One Wall Partners (OWP), the real estate investment and management firm based in Newark, NJ, recently announced the acquisition of 116 Lenox Avenue in East Orange.
The Lenox Ave property is a 17 unit walk-up building offering large two and three bedroom apartments within a few blocks of two NJ Transit train stations offering short commutes to Midtown Manhattan and Downtown Newark. “Transit-oriented workforce housing is in great demand in northern New Jersey,” said Nate Kline, chief investment officer and principal at One Wall Partners. “This property is ideally located to benefit greatly from our common area renovation plan and new residents will enjoy higher end finishes when apartments turnover.”
This is the seventh multi-family acquisition in East Orange executed by the firm and increases OWP’s portfolio of transit-oriented housing in northern New Jersey to 228 units. One Wall previously purchased six other properties in East Orange: 207 S. Harrison Street, 38 S. Walnut Street, 151 N. Walnut Street, 75 N. Walnut Street, 10 S. Grove Street and 172 William Street.
Founded in 2010, OWP is a vertically integrated real estate operator whose main objective is providing quality, transit-oriented workforce housing located within a half-mile of public transportation. The purchase of the building at 116 Lenox Ave. will provide affordable housing in a walkable neighborhood.
One Wall continues to pursue investment opportunities in the region.
For more information about One Wall Partners, email us at info@onewallpartners.com.
