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THE MODLIN GROUPS PRIVATE EQUITY GROUP ACQUIRES 130,000 SQUARE FOOT OFFICE COMPLEX IN NEW JERSEY FOR $39 MILLION
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NEW JERSEY - The Modlin Group‚s Private Equity Group today announced the acquisition of the Tyco Corporation‚s office building complex totaling 130,000 square feet, at a purchase price of $39 million. The property is located in Eatontown, New Jersey.
The Modlin Group is a boutique luxury real estate firm that operates a private equity group and a residential brokerage. The Private Equity Group is known for giving its select group of investors access to lucrative commercial and residential opportunities that yield superior returns. Since 1999, The Modlin Group's Private Equity Group portfolio has invested in assets worth more than $2 billion.
Built in 2002, the 130,000 square foot office complex is set on eight acres of land on the New Jersey shore near Long Branch. Consisting of a main 100,000 square foot building with a 30,000 square foot annex, the complex is net leased to the Tyco Corporation through 2022.
The acquisition deal was completed by Avery Modlin, CEO of The Modlin Group.
„We are pleased to have secured what we believe is a compelling investment for The Modlin Group investors, and this acquisition fits squarely within our strategy to purchase assets in high growth markets across the country,‰ Modlin stated.
About The Modlin Group
The Modlin Group operates in two divisions: Residential Brokerage, which represents buyers and sellers of luxury properties; and The Private Equity Group, which gives a select group of investors access to lucrative opportunities closed to the general public. Headed by brothers Adam and Avery Modlin, The Modlin Group represents the most demanding of clientele:
famous athletes, celebrities, and corporate executives.
Since 1999, The Modlin Group's Private Equity Group portfolio has invested in assets worth more than $2 billion. Recent notable deals include the $66 million equity investment in the acquisition of a 250,000 square foot office building in Manhasset, New York and a $67 million equity investment in the acquisition of Dobie Center, a 27-story residential tower and retail complex in Austin, Texas.
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