AEW sells $264m apartment property

AEW has sold Soho Lofts, a 377-unit, luxury apartment property in Jersey City, N.J., for $263.8 million.

Mack-Cali Realty Corp., a REIT, bought the property on behalf of Roseland Residential Trust, its growing multi-housing platform.

Completed in 2018, Soho Lofts consists of 369 studio through three-bedroom units as well as eight townhouses situated within 13- and 20-story towers connected by four- and seven-story structures. Soho Lofts also includes 17,300 square feet of ground-floor retail space and a 375-space parking garage.

Holliday Fenoglio Fowler assisted with closing the deal.