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Thousand Oaks Sold, Renamed Atlantic Pointe

Thousand Oaks, the 304 unit garden apartment complex on Route 36 in Middletown (Atlantic Highlands mailing address) has been sold for $56 million and will be renamed Atlantic Pointe.

The new owner, 165 Thousand Oaks Dr, LLC, a Delaware Limited Liability Company, is a partnership between the Kushner Real Estate Group (KRE) of Bridgewater, NJ and and Verde Capital of Conshohocken, PA. , according to reports at NJ.com and app.com.

The transaction, which was signed on July 11 and recorded on July 20, was financed by a $51,970,000 mortgage that was assigned to Federal Home Loan Mortgage Corporation (Freddie Mac), according to documents filed with the Monmouth County Clerk’s office.

KRE is not the Kushner company previously managed by Jared Kushner, President Donald Trump’s son-in-law, which owns Pier Village in Long Branch and the Monmouth Mall in Eatontown.

The property is assessed for property tax purposes at $29,141,000.  Middletown just got $27 million in new rateables.

The new owners said they would upgrade the 1,2 and 3 bedroom apartments as they turnover, according to the NJ.com report.

 

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Posted: July 30th, 2018 | Author: | Filed under: Middletown, Monmouth County News | Tags: , , , , , , , , | 2 Comments »

2 Comments on “Thousand Oaks Sold, Renamed Atlantic Pointe”

  1. BroadwayBill said at 11:33 am on July 30th, 2018:

    Yeah, right! lol! Just a pure coincidence, huh? Probably a relative…

  2. Sounds like said at 9:36 pm on July 30th, 2018:

    a win- win situation to me!