Invesco Real Estate Income Trust has completed its acquisition of a 360-unit garden apartment complex in Roseland for more than $160 million.
The property, located at 28 Nob Hill Road (near Interstate 280), is made up of 30 two-story buildings, totaling 384,480 square feet. It also has 777 parking spaces.
CoStar’s Linda Moss first reported the deal, which Invesco detailed in an 8-K filing with the U.S. Securities and Exchange Commission.
The deal comes five years after Novel Property Ventures, which shares a Manhattan address with Roseland Owner LLC, purchased Everly Roseland for $130 million. The investor purchased the 36-acre complex from its original developer, which had owned the property since 1978, with plans to rebrand, renovate and modernize the property to build on its existing amenities and its highway and mass transit access.