One Wall Partners (OWP), the real estate investment and management firm based in Newark, NJ, recently announced the acquisition of 641 units in a seven-property portfolio located in Northern New Jersey.
This is the third multi-family acquisition executed by the firm in 2016 to date. One Wall previously purchased two properties in East Orange, NJ. One Wall is focused on providing high quality, transit-oriented housing and will be making significant improvements to the recently acquired buildings, including common area and unit renovations.
“Northern New Jersey is ripe for investment in naturally occurring affordable housing and transit-oriented workforce housing,” said Nate Kline, Chief Investment Officer and Principal at One Wall Partners. “More than 200,000 units fit our criteria for short walking distance to mass transit that offers residents a 20-45 minute commute to Midtown or Downtown Manhattan. This “6th Borough” offers shorter commute times than many areas in Brooklyn and parts of Manhattan.”
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 buildings at 585, 595 and 603 Elizabeth Avenue, 129 Chancellor Street and 343 Schley Street in Newark and 356 and 378-404 Stuyvesant Avenue in Irvington will provide affordable housing in walkable neighborhoods, benefiting both residents and the environment.
One Wall continues to pursue investment opportunities in the region.
For more information about One Wall Partners, email us at info@onewallpartners.com.
