NEW JERSEY—SDK Apartments has paid $39.275 million to acquire Gaia Park View, a 273-unit, multihousing community in East Orange, N.J. from Gaia Real Estate Investments LLC. The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios and directors Kevin O’Hearn and Jeffrey Julien.
Located at 320 South Harrison Street on 3.82 acres, Gaia Park Apartments contains studio, one-, two- and three-bedroom units. The 20-story property is currently 98 percent leased and is undergoing renovations that include adding a west wing build-out that will bring an additional seven units, new office and larger laundry room as well as a community center.
Amenities at the property include a pool, fitness center and covered parking. Gaia Park Apartments is located in close proximity to Interstates 78 and 280 and the New Jersey Turnpike.