SUMMIT, NJ—Constantine CXII LLC has paid $19 million to acquire Constantine Village, a 100-unit apartment complex located in Summit, N.J. HFF marketed the property on behalf of the seller, AIG Global Investment Group. The HFF investment sales team representing the seller was led by Jose Cruz and Andrew Scandalios, senior managing directors, Kevin O’Hearn and Jeffrey Julien, managing directors, and Michael Oliver, associate director.
Comprised of nine building with two-bedroom units, the property was built in two phases in the 1950s and 1970s. Currently, Constantine Village is 96 percent leased.
Constantine Village is situated along Constantine Place and Risk Avenue and is within walking distance of the New Providence train station and a King’s supermarket. The property is in close proximity to Manhattan and provides access to Route 24 and Interstate 78.