NEW YORK, NY (June 2, 2021) – The Broadway Company (TBC) is pleased to announce that it has acquired Windy Acres, a large manufactured housing community, totaling more than fifty pad sites, located in Chester, New Jersey.
The off-market transaction adds to TBC’s existing portfolio of over sixty multifamily properties throughout the Northeast. “The strong demand for manufactured housing is substantiated by the healthy occupancy of this well-located community,” said Tana E. Weissman, Partner and Chief Operating Officer of TBC. She continued, “TBC has been active in the multifamily space since its inception. We recently diversified into manufactured-housing and single-family rentals (SFR). We believe in our ability to provide exceptional value and quality to all of our residences. The Windy Acres community is a great addition to our portfolio.”
Windy Acres is situated within close proximity of the intersection of Routes 24 and 206, across the street from the Chester Library, and complimented by great access to an abundant of retail options and the Historic Chester Town Center.
Northern New Jersey is a high barrier to entry market, with a difficult entitlement process. Given the Grade A education options and close proximity to New York City, this area of Morris County comprises strong demographics and steady population growth.
The acquisition was led by TBC’s Tana E. Weissman. B6 Real Estate Advisors successfully placed the debt for the transaction, while Sills Cummis & Gross P.C. provided legal representation to TBC.
Windy Acres will be managed by Moon Street, a wholly owned entity of The Broadway Company.
TBC is focused on increasing its New Jersey portfolio of Multifamily, manufactured homes, and single-family rentals throughout Hudson, Morris, Sussex and Essex Counties.
About The Broadway Company (TBC):The Broadway Company (TBC) is a real estate investment company that was founded in 2011, and has executed on just under 100 acquisitions and dispositions. TBC has deep experience in the housing space, with emphasis on multifamily, manufactured housing, single family for sale and SFR. The firm is currently active in Massachusetts, Montreal, Montana, and New Jersey.