Cushman & Wakefield Brokers $94M Sale of Northern New Jersey Multifamily Portfolio

NEW JERSEY — Cushman & Wakefield has brokered the $94 million sale of a 519-unit collection of multifamily properties in Northern New Jersey that is known as the Tag Portfolio. The number of properties was not disclosed. The Tag Portfolio, which was 97 percent occupied at the time of sale, features properties that were built between 1920 and 1980 and are located in East Rutherford, Cliffside Park, Palisades Park, Lyndhurst, Garfield, Jersey City and Kearny. The majority (96 percent) of the units are one- or two-bedroom residences and have value-add potential. Niko Nicolaou, Ryan Dowd, Michael Guerra, J.P. Hohl and Alexandria Ebers of Cushman & Wakefield represented the seller, Tag Investment Properties, in the transaction and procured the buyers. Tuli Realty purchased the properties located in East Rutherford, Cliffside Park, Palisades Park, Lyndhurst, Garfield and Jersey City, while Sher Management acquired the Kearny property. Brad Domenico and Frank Stanislaski of Cushman & Wakefield arranged acquisition financing for the deal.