New Jersey Firm Buys Perrywood Gardens

A New Jersey-based real estate group has purchased apartments on the outskirts of Aberdeen.

Tryko Partners, LLC—based in Brick, NJ—had acquired the eight-building, 184-unit complex, it announced through a news release Wednesday afternoon.

“Perrywood Garden sits in an excellent market for multifamily, with several neighboring market-rate rental properties that maintain occupancies in the high 90 percent range. The previous ownership focused significant attention on its upkeep, a practice that we will continue while working to enhance the property’s operational efficiency,” Tryko's Director of Acquisitions, Uri Kahanow, said in a statement.

The news release notes that Perrywood Gardens offers housing assistance in all of its units, mostly two-bedroom apartments. The 18-acre property includes a pool, basketball courts and a playground, according to the statement.

With located nearby, Tryko saw the Aberdeen property as a unique opportunity.

"Aberdeen is an attractive location for commuters, which contributes not only to its strong rental performance but also to its appeal for investors like Tryko Partners," Kahanow said. "Additionally, the town is located in the heart of our strategic market. We have several properties in Baltimore and recently acquired a community in Harrisburg, PA. Perrywood Garden sits directly in between the two cities. It is an ideal fit for our portfolio."

According to the news release, Tryko maintains 4,300 units in its residential properties.

TELL US: Do you think the property transaction is good news for residents and neighbors of Perrywood Gardens? Leave a comment.