CHATHAM, NJ - Kushner Companies, a diversified real estate organization headquartered in New York, has acquired the Chatham Hill Apartments, a premier 308-unit rental apartment community in Chatham Township, from Home Properties/Loan Star Funds.
Terms of the deal were not disclosed. The announcement was made Tuesday, Oct. 20, by Jared Kushner, CEO of Kushner Companies. Joseph Brecher of Gebroe Hammer represented the seller, Home Properties/Lone Star Funds in the transaction. Meridian Capital Group arranged acquisition financing through New York Community Bank (NYCB) in the deal.
“Communities like Chatham Hill Apartments – an A-plus quality asset – don’t trade very often, so we were excited to have this investment opportunity,” Kushner said. “The community has many desirable qualities and an outstanding location within a highly regarded school district, offering convenient access to New York City.”
Set on 23 scenic acres, Chatham Hill Apartments offers a mix of one-, two-, and three-bedroom apartments offering fully equipped kitchens with separate dining rooms, spacious closets, central air with individual climate control, and high-quality finishes. A separate den or office is available in select apartments. Amenities include a community pool with deck, tennis courts and on-site garage parking.
The pet-friendly property is located just minutes from the NJ Transit, providing convenient access to the New York Metro area. The community is also convenient to I-78, I-80 and I-287. The property offers close proximity to the Short Hills Mall, Whole Foods, and is located in the highly desirable School District of the Chathams school district.
Through Kushner Companies’ Westminster Management division, the firm now owns and manages over 20,000 garden apartments in six states, including New York, New Jersey, Maryland, Pennsylvania, Ohio, and Indiana.