A private investor has acquired a 284-unit senior housing property in the Camden County borough of Barrington, in a newly announced deal by Hudson Atlantic Realty.
The brokerage team noted that the complex known as Barrington Mews, located at 2101 Reamer Drive, had operated as federally subsidized affordable housing since it opened in 1994. Those restrictions expired last year, while additional restrictions under the New Jersey Housing and Mortgage Finance Agency expired this past February, allowing it to transition to market-rate housing and unlock what Hudson Atlantic said was significant value.
Hudson Atlantic: Camden County rental property sold after income restrictions expire