PATERSON, NJ (April 4, 2016) - CBRE Group Inc. a commercial real estate brokerage firm, has arranged the sale of three multifamily properties in Paterson for $2.43 million, it announced Monday.
The three residential buildings total 49 units and are located on the corner of 12th Avenue and Auburn Street.
Charles Berger, Elli Klapper and Mark Silverman of CBRE’s Capital Markets Investment Properties team represented two separate owners in the sale to an individual buyer, CBRE said.
“The CBRE Tri-State Investment Properties team was able to procure offers from both local and out-of-state investors for this assemblage of properties,” Berger said in a prepared statement. “Although this was a more complex transaction with two separate sellers, we were able to navigate the transaction to a successful completion, meeting all parties’ expectations and finding the best buyer for these assets. Our team is very active in the northern New Jersey market and in the urban areas in particular. Our extensive reach of investors means we can generate more interest in properties and achieve maximum value for our clients.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
