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WOODBRIDGE AND UNION CITY, N.J. — Redwood Realty Advisors has arranged the sales of two apartment properties in New Jersey. Jeremy Wernick assisted in the $2.55 million sale of a 22-unit garden apartment complex in Woodbridge. The sale closed at a 6.2 percent cap rate. Wernick also located a Florida investment property for the seller to purchase to complete a 1031 exchange.
In Union City, Redwood’s Steven Matovski and Saul Ramirez brokered the sale of a 19-unit garden apartment complex for $1.15 million.
The names of the buyers and sellers were not disclosed.