07/28/2011
Source: realestategrowthadvisors.com
FOR IMMEDIATE RELEASE: July 28, 2011
RE: Real Estate Growth Advisors, LLC Closes on Park West Terrace, East Rutherford, NJ
Real Estate Growth Advisors, LLC (“REGA”) is pleased to announce the acquisition of Park West Terrace (formerly 152 Park Avenue Apartments). Park West Terrace (the “Property”) is a 15-unit mid-rise multifamily building located at 152 Park Avenue, East Rutherford, NJ 07073.
The Property is located on the corner of Park and Main Avenues in East Rutherford approximately fifty feet and diagonal across the street from Park West Gardens, which REGA acquired in November 2010. The acquisition of Park West Terrace will bring operating and cost efficiencies to both properties. Cost and operating benefits will include marketing, leasing, management, administrative as well as maintenance. The Property consists of four one bedroom and eleven two bedroom apartments on four floors. Thomas McConnell and Kevin McCrann of Marcus and Millichap brokered the transaction.
REGA is a New Jersey based real estate investment and management company. REGA owns and operates quality multifamily and mixed-use commercial real estate and specializes in creating value through repositioning assets, implementing its “hand on” property management approach.
For all inquiries, please call (800) 641-3990, email info@regrowthadvisors.com, or view our website at www.realestategrowthadvisors.com