American International Group's real estate affiliate has
sold a 12-property apartment portfolio including five South Jersey developments
for about $165.4 million, according to real estate services firm HFF Inc.,
which helped broker the sale.
The garden-style communities sold by AIG Global Real
Estate Investment Corp. encompass 2,811 units averaging about 800 square feet,
HFF said in a release on Monday. No buyer was disclosed.
The properties include the Woodlane development in
Burlington County; the Willows, Chateau Ridge and Fox Ridge communities in
Camden County; and the Woodbury apartments in Gloucester County, HFF said.
Also included are properties in Essex County, N.J.;
Dauphin, Lancaster and Lehigh Counties, Pa.; and New Castle County, Del.,
Source: Philly.com
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