LIVINGSTON, NJ—Gebroe-Hammer Associates says it recorded third quarter apartment sales totaling more than $333 million, involving 1,270 units spanning Morris, Somerset and Union counties.

Each of the six separate transactions involved suburban apartment-home assets, ranging from newly renovated, upscale core communities to properties primed for capital improvements in order to render them more competitive. Among those properties poised for repositioning were Hamilton House and Jefferson House, two garden-apartment communities featuring 35 two-bedroom and 75 two-bedroom/8 one-bedroom units, respectively in Chatham.

"This portfolio was highly unique in that almost 92% of the total units were distinct two-bedroom layouts," says Stephen Tragash, senior vice president, who arranged the sale as part of a brokerage team that included managing director Joseph Brecher. "The opportunity to implement capital improvements, including condominium-style finishes in the kitchens and baths, to achieve significant rent appreciation is what rendered the already well-maintained Hamilton and Jefferson House an extremely desirable acquisition."