Westwood Multi-housing Portfolio, a four-property, 276-unit multifamily portfolio located in Westwood and River Vale, sold for $80 million, according to a Wednesday announcement from JLL.
JLL worked on behalf of the seller, Kushner, in procuring the private buyer.
The portfolio is comprised of Coventry Square, Stanford Court and The Madison Apartments, all located in Westwood. Additionally, Village on the Green is situated in the adjacent town of River Vale.
Bergen County is an affluent area characterized by strong demand and a high quality of life, supported by major employers such as Hackensack Meridian Health and BMW’s North American headquarters. Offering suburban comfort with abundant amenities, the area features a walkable downtown in Westwood and numerous shopping, dining, and entertainment options. Additionally, Bergen County’s proximity to the Garden State Parkway and Route 4 provides seamless access to Manhattan in less than an hour.
The portfolio, built between 1979 and 1987, spans 11.79 acres and is currently 96% occupied. It comprises one- and two-bedroom units, each featuring full kitchens with energy-efficient appliances, granite countertops and hardwood flooring. Community amenities include a fitness center, swimming pool, tennis court and dog parks. With most units unrenovated, the portfolio presents an excellent value-add opportunity for the buyer.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Jose Cruz, Mike Oliver and Steve Simonelli, Director Elizabeth DeVesty and Associate Austin Pierce.
“The successful sale of the Westwood Multi-housing Portfolio underscores the strong investor demand for quality multifamily assets in high-demand markets like Bergen County,” Cruz said. “This transaction highlights the appeal of properties with substantial value-add potential and the continued interest in suburban markets offering accessibility, strong demographics, and a high quality of life.”
