M&M takes price in its sales Forde

Real Estate Weekly, April 27, 2005

Patrick Forde, of the New Jersey office of Marcus & Millichap, has completed the sale of eight apartment communities representing 305 units for approximately $13 million. The properties were located in urban Essex county, Jersey City and Hartford, Conn.

"Demand remains extremely strong for investment properties in urban New Jersey," Forde said. "On all of these deals, I was able to generate very strong offers in a short amount of time, then proceed through the transaction. Naturally, each sale has its own unique obstacles that need to be overcome, but that's what I am hired to do."

Forde's sales included 75 units in Hartford, 82 units in four buildings in Jersey City, 98 units in four buildings in East Orange and a vacant 40-unit complex in Newark.