The Henry, a 169-home luxury apartment community located in Pomona, has been sold for $54 million.
The CBRE team of Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David Gavin and Travis Langer represented the seller, a joint venture between Spirit Investment Partners and The Bascom Group, while also procuring the buyer, an affiliate of Harbor Group International LLC (HGI).
Built in 2001 and recently renovated, the Rockland County complex features a resident clubroom, pool and sundeck, billiards room, fitness center and basketball courts.
Dunne said that Spirit and Bascom “did a fabulous job renovating the clubroom and apartments. The offering received significant interest from a broad group of investors considering the quality of the asset and site constrained location.”
“HGI is highly familiar with the Rockland County market, given their past ownership of Alister Nanuet,” noted Pride. “The Henry is a terrific opportunity to apply their management expertise and local market knowledge. Renters are increasingly looking for larger apartments in suburban locations, which bodes well for continued strong performance at the asset.”
