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The three-property portfolio transaction included the $5.3-million sale of Ausonia Apartments, a 26-unit multifamily property with two commercial units located at 501-505 Raritan Avenue in Highland Park, located in Middlesex County NJ.
Investors will read this guidance and understand that it is applicable to the QOF level, further supporting why start-up companies and investors should not invest or seek investment at the QOF level.
The deal follows last week’s sale of 99 Greenwich Ave. by Midwood Investment & Development. The nearly 11,000-square-foot retail property triple-net leased to CVS through January 2038 was acquired by an institutional investor for $30 million.
MetroGroup Realty Finance recently provided financing to private investors for three separate 1031-exchange transactions involving the acquisition of four single-tenant triple-net lease assets in Illinois and Texas.
After revealing closing $140 million ground leases underlying office buildings in New York, NY and Austin, TX, the firm releases newly signed contracts in New York.