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Brokerage
Posted: September 7, 2021
Shamah Properties buys Copperwood Apartments for $70.35 million
Princeton, NJ Shamah Properties, a commercial real estate investment and management firm, purchased Copperwood Apartments for $70.35 million.
The class A, 153-unit residential apartments complex at 300 Bunn Dr. is located near downtown and Rte. 1, making it accessible to shopping, jobs and nightlife.
The 217,259 s/f five-building complex features 22 one-bedrooms, 130 two-bedrooms and one studio apartment. It was built in 2015.
The buildings are linked by landscaped walkways and seating areas as well as an underground garage that spans all of the apartments. The complex includes 30-acres of preserved scenic woodland, and offers residents outdoor exercise paths, fitness center, BBQ areas, assigned parking in a heated garage and kitchen and bathroom finishes.
“Shamah Properties purchased Copperwood because it is a core asset located in an established growing market where we see much growth potential,” said Shamah Properties’ director of acquisitions/CFO, Edward Setton. “We are also looking to buy more multifamily properties in New Jersey, Philadelphia, Connecticut, North Carolina, Atlanta and parts of Florida.”
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