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Tarragon Site Sold Out of Bankruptcy

PALISADES PARK, NJ-Austin, TX-based Berkeley Palisades Park LLC is the new owner of the 6.5-acre Trio East multifamily development site.

By Debra Hazel | Updated on March 01, 2011

PALISADES PARK, NJ-The 6.5-acre Trio East multifamily development site has been sold as part of a bankruptcy court order for $1.8 million to Berkeley Palisades Park LLC of Austin, TX. Cushman & Wakefield’s Metropolitan Area Capital Markets Group was engaged by the court to represent seller Tarragon, the original developer of the property. Tarragon, which actually filed for Chapter 11 bankruptcy back in 2009, was required by the court to sell the tract to satisfy the lien holder.

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