Hyperion JV buys luxury NJ apartment complex for $165M

Hyperion Group has teamed up with a veteran New York real estate investor to buy a New Jersey rental building whose owners were struggling to refinance the CMBS loan. HyperionMFP Partners, a joint venture between the New York- and South Florida-based investment and development firm and Lawrence Benenson of Benenson Capital Partners, snapped up The Centre, a 314-unit luxury rental building in Cliffside Park, New Jersey, for $165 million in an off-market deal.  “We were attracted to the property, and it was a good opportunity, given market conditions,” said Hyperion’s Rob Vecsler. Completed in 2017, The Centre sits in the […] This article originally appeared on The Real Deal. Click here to read the full story.