Finding Your Niche in NJ Multifamily: Panel of Investors and Industry Experts Discuss Garden State Acquisitions Landscape

JERSEY CITY, NJ – Everyone wants to know where capital is flowing and that’s why CAPRE formulated a panel to blow that topic wide open at our recent New Jersey Apartment Summit in early December. “Suburban, Urban vs Emerging Submarkets: Where are Investors Deploying Capital in the Various New Jersey Markets and Why?” featured six leading industry representatives discussing the where, why and how of capital flow in emerging markets, which kicked off with some insight from the developers on the panel. First up was Adam M. Pasternack, Senior Vice President at Russo Development. “Adam, you guys make a lot of decisions as to where to go regarding environmentally sensitive sites as well as some pioneering,” remarked Brian Whitmer, Senior Director at Cushman & Wakefield to Pasternack, before making a suggestion. “Talk to us about the background that happens when you guys get together in your office to talk about a market where, they may not be a lot of activity, but you want to discuss deploying capital.” “We have about 1800 stabilized units and about 3000 units in some form of development or construction. So initially, we’re very familiar with and have a strong background in environmental mediation and we carry that into our multifamily thought process,” replied Pasternack. “Our first four or five developments were all brownfield developments to residential. The value we add is probably before a resident walks in the door – in the acquisitions phase,…