Wayne Apartment Complex Sold As Part Of $218M Deal

WAYNE, N.J. — A township apartment complex has been sold to Cammeby's International LTD as part of a $218 million transaction that also included a multifamily property in Piscataway.

Cammeby's International LTD acquired the Wayne Village and 1,400-unit Pleasant View Gardens apartment complexes using 10-year Fannie Mae loans, said Meridian Capital Group, one of the largest commercial real estate finance and advisory firms in the United States. Meridan arranged the financing on behalf of Cammeby's.

Wayne Village is composed exclusively of one- and two-bedroom garden apartments and one-bedroom townhouses. The 275-unit complex features a swimming pool, fitness center, and dog park.

The other multifamily property in the deal is Pleasant View Gardens in Piscataway. That facility has 1,142 garden-style apartments and 80 acres of open space.