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AION Said to Acquire 12-property AIG MF portfolio

FLORHAM PARK, NJ — AIG Global Real Estate Investment has sold for $165.4 million a 12-property apartment portfolio totaling 2,811 units in New Jersey, Pennsylvania and Delaware, the remains of a portfolio it acquired from Kushner Companies in 2007.

By Steve Lubetkin | Updated on December 29, 2015

FLORHAM PARK, NJ — AIG Global Real Estate Investment has sold a 12-property apartment portfolio totaling 2,811 units located in New Jersey, Pennsylvania and Delaware, the remains of a portfolio it acquired from Kushner Companies in 2007. The buyer is thought to be New York-based AION Partners in a deal brokered by Holliday Fenoglio Fowler. AION did not respond to a request from GlobeSt.com for comment.

Holliday Fenoglio Fowler marketed the offering exclusively on behalf of AIG. The buyer purchased the portfolio for approximately $165.4 million free and clear of existing debt. This transaction represents the largest multi-housing sale of 2015 in New Jersey, according to Real Capital Analytics.

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