{"id":1004026239,"date":"2011-01-31T07:06:47","date_gmt":"2011-01-31T15:06:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004026239"},"modified":"2022-12-08T18:36:13","modified_gmt":"2022-12-09T02:36:13","slug":"mra-completes-112-5m-multi-family-sale-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mra-completes-112-5m-multi-family-sale-2\/","title":{"rendered":"MRA Completes $112.5M Multi-Family Sale"},"content":{"rendered":"<p>January 31, 2011<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004026240\" style=\"width: 310px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/pena2.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004026240\" data-attachment-id=\"1004026240\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mra-completes-112-5m-multi-family-sale-2\/pena2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/pena2.jpg\" data-orig-size=\"500,375\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"pena2\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user pena2&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/pena2.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/pena2.jpg\" alt=\"\" title=\"pena2\" width=\"300\" height=\"225\" class=\"size-medium wp-image-1004026240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/pena2.jpg 500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/01\/pena2.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004026240\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user pena2<\/p><\/div>\n<p>MRA Plaza Apartments I Urban Renewal L.L.C. has completed the $112.5 million sale of The Highlands at Plaza Square in New Brunswick, N.J. MRA, which is an entity controlled by Prudential Real Estate Investors, Roseland Property Co., Applied Development Co., and Matrix Development Group, sold the property to Highlands Urban Renewal L.L.C., which is controlled by Manulife Financial Corp. <\/p>\n<p>The Highlands at Plaza Square comprises 415 Class A units in downtown New Brunswick along Route 18. It is located near Interstates 287 and 95, New Jersey Transit and Amtrak.<\/p>\n<p>MRA was represented by Jeffrey Dunne, Kevin Walsh and Christopher Leonard of CB Richard Ellis\u2019 New York Institutional Group. Dunne said that Manulife is poised to benefit from the ongoing transformation of downtown New Brunswick, and that it is a strong first entry for the company into the local market.<\/p>\n<p>CBRE\u2019s New York Institutional Group has sold more than $510 million in apartment in 2010. That total includes the sale of Avalon on the Sound in New Rochelle, N.Y. for $107.5 million, Bank Street Commons in White Plains, N.Y. for $155 million, and Newbury Common in Stamford, Conn., for $62 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Highlands at Plaza Square is a 415-unit Class A property located in downtown New Brunswick, N.J. It was purchased by Highlands Urban Renewal L.L.C., which is controlled by Manulife Financial Corp.<\/p>\n","protected":false},"author":936,"featured_media":1004026240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742],"tags":[],"class_list":["post-1004026239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MRA Completes $112.5M Multi-Family Sale - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mra-completes-112-5m-multi-family-sale-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MRA Completes $112.5M Multi-Family Sale\" \/>\n<meta property=\"og:description\" content=\"The Highlands at Plaza Square is a 415-unit Class A property located in downtown New Brunswick, N.J. 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