Berkadia and Colliers have successfully facilitated the sale of Marc Hampton Apartments in Matawan, New Jersey, to Pentaurus Properties, who plans extensive renovations to enhance the property.

Target Information

The Marc Hampton Apartments, located in Matawan, New Jersey, is a 124-unit multifamily community comprising 11 two-story buildings. Established in the 1960s, this garden-style property features a mixture of one- and two-bedroom apartments with semi-private entrances. The expansive 10-acre site includes 151 surface parking spaces, 21 income-generating garages, and a common laundry facility, all of which add to its appeal as a multifamily residential property.

Industry Overview in New Jersey

The multifamily real estate sector in New Jersey has experienced significant growth, particularly as urban living becomes increasingly desirable. The demand for rental units has surged as millennials and young professionals prioritize flexibility and accessibility to urban amenities. This trend is driving investments in multifamily properties, signaling a robust market landscape.

In recent years, New Jersey's rental market has shown resilience, aided by its favorable proximity to major metropolitan areas such as New York City and Philadelphia. With a limited suppl