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Article: AEW Capital Management buys into Hoboken market.(New Jersey)(Brief Article)
- Article from:
- Real Estate Weekly
- Article date:
- September 29, 2004
CopyrightCOPYRIGHT 2004 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AEW Capital Management, L.P. has acquired the Metropolitan, a 128-unit luxury apartment and retail property in Hoboken, N.J., from Clinton Street Apartments, LLC, announced Jose Cruz, of Cushman & Wakefield's metropolitan area financial services group. AEW Capital Management acquired the property for approximately $37 million on behalf of an institutional client. Cruz and his team represented the seller and procured the buyer in the transaction.
Located at 1300 Clinton St., the Metropolitan maintains a 98% apartment occupancy rate, with tenants enjoying a gated garden and 24-hour fitness center. The 4,000 s/f retail component is fully leased to four tenants, ...
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... ... P., a real estate opportunity fund managed by AEW Capital Management, L.P. DHC, which previously operated the hotel ... Company," said Jim Luchars, vice president of AEW Capital Management, L.P. "We look forward to this venture with ...
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