GEBROE-HAMMER BROKERS TWO APARTMENT SALES FOR $25 MILLION

LONG BRANCH AND RED BANK, N.J. — Livingston, N.J.-based Gebroe-Hammer Associates (GHA) has brokered two separate multifamily sales for a total of more than $25 million. The two properties include Lloyd Manor, a 70-unit, garden-style apartment community located at 376 West End Ave. in Long Branch, and Colony House, a 68-unit, high-rise apartment building located at 122 N. Riverside Ave. in Red Bank. Lloyd Manor comprises 15 two-story buildings that include 40 two-bedroom and 30 three-bedroom units. It was fully occupied at the time of closing. The seven-story Colony House building contains a mix of 6 studio units, 22 one-bedroom units, 35 two-bedroom units, two three-bedroom units and three penthouses. Steven Follman of GHA represented both parties in the transaction. Lloyd Manor was sold by Lloyd Manor Associates LLC to a private, New Jersey-based investment group. Colony House was sold by Colony Realty Associates in a 1031 exchange to Park Ridge LLC.