At a sealed auction ending on July 27, investors can compete for six asset pools ranging from two to 29 properties each; the stabilized portfolio is 92% occupied and includes commercial and residential development opportunities as well as single and multi-family homes in good condition; the non-distressed seller aims to retire and allocate the vast majority of profits to charity.
TRENTON, NJ, June 8, 2022 /PRNewswire/ — A&G Real Estate Partners is auctioning a stabilized 64-property portfolio of real estate assets amassed by a private investor focused on Central and Southern New Jersey.
The sealed auction, which closes July 27“represents a great opportunity for investors of all sizes to hedge against inflation by acquiring the kind of stabilized, income-generating real estate that is increasingly hard to come by in today’s tight market,” said Jeff HubbardSenior General Manager of Real Estate Sales for Melville, NY-A&G based.
The entire portfolio is 92% occupied, with an average revenue per unit of around $1,225 per month for single-family and multi-family homes. “The bundled structure of this sale is also remarkable. It allows investors to tailor their offerings to their capital resources and particular real estate interests,” added Jamie Cote, Senior Managing Director of Real Estate Sales at A&G. “You can target undeveloped land in a busy commercial corridor or buy a seven-unit rental building within walking distance of major employers and educational institutions. Thirteen of the properties are located in Qualified Opportunity Areas, providing buyers with attractive tax incentives.
The seller is a private investor who has purchased, renovated and rented these properties over two decades and now wishes to retire and allocate the vast majority of auction proceeds to charity. “These single-family and multi-family rentals are generally in good condition with very little to no deferred maintenance – an important consideration given today’s higher construction costs and ongoing labor shortages,” said note Katie De Coste, General Manager of Real Estate Sales at A&G. “Residential development opportunities here also include some real highlights. An example is 328 Stokes Road in Medford – a single-family site surrounded by homes worth up to $1 million.”
The six available asset pools, including multi-family residential properties of two to seven units each, are broken down as follows:
- Camden: Nine single-family rental buildings.
- Florence, Maple shade, beverlyand Burlington: 10 single-family rental homes, two multi-family properties
- Trenton: 23 single-family rental homes, six multi-family properties
- South/Central Counties (Ocean, Burlington, Camden, Gloucester, Mercier): Nine parcels of land ranging in size from 0.5 to 160 acres, mostly zoned residential
- Buena, Lumberton and Winslow: Two single-family rental homes, one multi-family property
- Camden and Woodbury: Two commercial properties (a private academy and a small office building)
Commercial land parcels available in the auction include a 2.27 acre undeveloped site on Route 73 in the Marlton section of Township of Evesham. “This prime location sits between two busy shopping malls: Promenade Shops and Willow Ridge Square,” said Christian Kulichkov, A&G general manager of real estate sales. “The zoning allows for a wide range of potential commercial uses on this premier commercial corridor.”
When it comes to income-generating properties under lease, a highlight is the 70,000 square foot private academy located at 1770 Mt. Ephraim Ave. at Camden. This building is rented by August 2025 paying $288,000 triple net income every year,” Côté noted.
Other residential development opportunities include a Little Egg Harbor site which consists of 40 acres of upland, providing 8.8 acres of developable frontage on Stage Road. Including wetlands, the entire 161-acre parcel offers the potential to sell environmental credits or conservation easements. The development portfolio also includes single-family sites in Little Egg Harbor and ocean gate.
For more information on the portfolio visit: www.agrep-sales.com/southjersey or contact Katie De Coste(773) 615-1292, [email protected]Where Christian Kulichkov(617) 335-3940, [email protected]
Press contacts for A&G: Jaffe Communications (908-789-0700), Elisa Krantz, [email protected]m or Bill Parness, [email protected]
SOURCE A&G Real Estate Partners