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Trophy Apartment Trades Hands for $113M

NEW BRUNSWICK, NJ-CBRE’s New York Institutional Group represented the seller and secured the buyer, Manulife Financial Corp.

By Alyson Grala | Updated on January 28, 2011

NEW BRUNSWICK, NJ-Jeffrey Dunne, Kevin Welsh and Christopher Leonard of CB Richard Ellis’ New York Institutional Group represented MRA Plaza Apartments I Urban Renewal LLC, an entity controlled by Prudential Real Estate Investors; Roseland Property Co.; Applied Development Co.; and Matrix Development Group in the sale of the Highlands at Plaza Square here for $112.5 million. The team was also responsible for procuring the buyer, Highlands Urban Renewal LLC, an entity controlled by Manulife Financial Corp. through its US subsidiary John Hancock Life Insurance Co.

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