Walker & Dunlop Completes Sale of Luxury Multifamily Property in Westfield, New Jersey
October 12, 2021 at 08:54 pm EDT
Share
Walker & Dunlop, Inc. announced that it completed the $29,750,000 sale of 333 Central Avenue, a 70-unit, Class A multifamily property in Westfield, New Jersey, located approximately 15 miles southwest of Manhattan. Built in 2017, the four-story property is considered the largest and most visible apartment community in Westfield's downtown neighborhood. Walker & Dunlop's Thomas Walsh and Joseph Garibaldi represented the sellers, Claremont Development and The Hampshire Companies, in the transaction to the buyer, Rockwood Capital, LLC. 333 Central interior finishes and amenities, including a modern community room, 24-hour fitness studio with Pilates, yoga, and fitness on demand, a package concierge, rooftop terrace, direct-access secured parking garage, and a dog walk and pet-washing facility. The property sits directly across the street from the Westfield Train Station, which registers the highest ridership of any station on New Jersey Transit'sRaritan Valley Line. Downtown Westfield is one of the most appealing districts for entertainment, shopping, and restaurants, making 333 Central highly desirable for residents seeking a live, work, and play lifestyle.
Walker & Dunlop, Inc. is a commercial real estate finance and advisory services firm. The Company focuses on providing multifamily lending, property sales, commercial real estate debt brokerage, and housing investment management. Its segments include Capital Markets, Servicing & Asset Management, and Corporate. Capital Markets segment provides a range of commercial real estate finance products to customers, including Agency lending, property sales, and appraisal and valuation services, others. Servicing & Asset Management segment's activities include servicing and asset-managing the portfolio of loans the Company- originates and sells to the Agencies; or brokers to certain life insurance companies, and originates through its principal lending and investing activities, and managing third-party capital invested in tax credit equity funds focused on the housing sector, and other commercial real estate. Corporate segment includes treasury operations, and other corporate-level activities.