Long Valley, NJ The Broadway Company (TBC) has acquired two manufactured-housing communities, Hillside Village and Sherwood Village, in Northern New Jersey.
Hillside Village is in Oxford, NJ, in Bergen County, and Sherwood Village is in Long Valley, NJ, in Morris County.
The transaction adds to The Broadway Company’s growing portfolio of high-quality manufactured-housing communities located in desirable submarkets throughout the Northeast.
“We remain bullish on the residential housing market in Northern New Jersey, with a particular focus on manufactured housing,” said Tana Weissman, principal of The Broadway Company. "The costs of land, real estate taxes, and construction are very high in Northern New Jersey, so manufactured housing offers an affordable housing solution for residences.”
The acquisition was led by Weissman. NMHC Group of KW Commercial represented the seller, while Sills Cummis & Gross P.C. provided legal representation to The Broadway Company. KeyBank provided the financing.
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