October 31, 2016
BlueGate Sells The George & Skyline Tower, Two Class-A Transit-Oriented New Jersey Apartment Buildings
BlueGate Partners, LLC (“BlueGate”) is pleased to announce the successful sale of The George and Skyline Tower, two distinct high-rise residential buildings with a total of 174 apartments in the heart of downtown New Brunswick, New Jersey (collectively, the “Properties”). Both Properties are located a short walk from New Jersey Transit’s (“NJT”) New Brunswick train station with direct service to Manhattan; Rutgers University and its nearly 50,000 students and faculty; the global headquarters of Johnson & Johnson and all of the eclectic retail and dining options of downtown New Brunswick.
Consisting of one- and two- bedroom units along with 2,935 square feet of retail space, the Properties also include numerous amenities to enhance resident’s lifestyles. The transit-oriented, urban infill location of the Properties affords residents tremendous access to New Brunswick and its surrounding areas, as well as the country’s largest metropolitan area, New York City, in less than one hour.
Representing the seller, Pennrose Properties, BlueGate sold the Properties to Oxford Realty Group.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.