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.,