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Income-Producing Multifamily | Rahway, New Jersey | Preferred Equity Recapitalization | REIT| $35MM

Buckingham is pleased to announce that it successfully arranged preferred equity on behalf of the client for the recapitalization of a 159-unit Class-A apartment complex with 6,000 square feet of ground-floor retail space in Rahway, NJ. Fully stabilized and located at the center of Rahway, with a short walk to the NJ transit, this income oriented investment provides a superior risk-adjusted return relative to its comparable.

The sponsor, a fully vertical integrated investment management firm with over 4,000 workforce housing units in the Northeast had to close on balance sheet to meet the required timeline. Upon closing, the preferred equity was placed through a REIT which was familiar with the market and the transaction was closed in under 6 weeks.