Adds to Portfolio of High-quality Properties in Desirable Locations
LONG VALLEY, NJ — The Broadway Company (TBC) has acquired two manufactured-housing communities, Hillside Village and Sherwood Village, in Northern New Jersey.
Hillside Village is in Oxford, NJ, in Bergen County, and Sherwood Village is in Long Valley, NJ, in Morris County.
The transaction adds to The Broadway Company’s growing portfolio of high-quality manufactured-housing communities located in desirable submarkets throughout the Northeast.
“We remain bullish on the residential housing market in Northern New Jersey, with a particular focus on manufactured housing,” said Tana E. Weissman, Principal of The Broadway Company. “The costs of land, real estate taxes, and construction are very high in Northern New Jersey, so manufactured housing offers an affordable housing solution for residences.”
The acquisition was led by Weissman. NMHC Group of KW Commercial represented the seller, while Sills Cummis & Gross P.C. provided legal representation to The Broadway Company. KeyBank provided the financing.
ABOUT THE BROADWAY COMPANY
The Broadway Company (TBC) is a fully integrated real estate investment platform that focuses primarily on residential housing in the United States. Founded in 2011, TBC has successfully completed over 90 investments. The Broadway Company focuses primarily on multifamily and manufactured-housing. The Founder of The Broadway Company, Jason S. Weissman, is also the founder of Boston Realty Advisors (BRA), the largest and most successful independently owned commercial real estate brokerage in New England. The Broadway Company is a direct beneficiary of BRA’s far-reaching capabilities and leverages this relationship across the company’s functions. Each member of the TBC team brings a diverse set of experiences. They are leaders in corporate governance, asset management, acquisitions, accounting, and leasing. The Broadway Company manages its assets with Door Property Management. For more, please go to www.tbcre.com and www.door.com .
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