Managing Director Jeff Squires Arranges Sale of 75-Unit Multifamily Portfolio in Union & Roselle Park

Woodbridge, N.J., March 6, 2025 – The Kislak Company, Inc. announced the recent sale of a 75-unit multifamily portfolio in Union County, New Jersey for $12,000,00. The sales include Townley Garden Apartments, a 48-unit property ay 1407 Morris Avenue in Union, and Knights Manor, a 27-unit property at 111 Locust Street in Roselle Park.

Kislak arranged the sales with managing director Jeff Squires handling the assignment and he also procured the purchaser, Locust Party Management, LLC.

Jared Sobel of Walker & Dunlop arranged Freddie Mac financing for both properties.

Mr. Squires commented, “Legacy apartment complexes with long-term family ownership are among the most desirable assets for many of our investor clients. After 50 years of ownership, the seller engaged Kislak to liquidate all of their New Jersey multifamily properties within a 90-day window. Townley Gardens and Knights Manor are spectacular assets with tremendous potential.”

Townley Garden Apartments is a two-story, brick complex built in 1943 spanning two acres of prime real estate, just minutes from Kean University. The property consists of 32 one-bedroom units and 16 two-bedroom units with semi-private entrances and detached parking garages. Located near parks, and the specialty shops and cafes of downtown Union, the property is under a 10-minute drive to Newark Liberty International Airport, close to major highways, and has almost a dozen transit and commuter rail lines extending out to surrounding communities and nearby New York City.

Built in 1950, Knights Manor is a three-story, brick complex with five studios, 16 one-bedroom units, and six two-bedroom apartments with on-site private parking. Well-maintained interiors include original wood floors, ample windows and closets, individual air conditioning units and spacious rooms. It is located in the city center of Roselle Park, which is popular as a home base for New York area commuters and employees at the Merck offices just north of town.

Jeff Squires joined Kislak in 2007 and specializes in the sale of multifamily and other investment properties throughout northern New Jersey. Consistently among Kislak’s leading salespeople, he received the firm’s 2008 Rookie of the Year award, 2012 Sima Kislak Jelin Salesperson of the Year award and 2014 and 2016 Producer of the Year award. In 2024, he was promoted to a managing director.