PRESS ROOMNEWS RELEASE

Inland Acquires 393-Unit Luxury New Jersey Multifamily Property

Summit Court, Union, New Jersey

Oak Brook, Ill. – Inland Real Estate Acquisitions, LLC (“Inland Acquisitions”) announced today that it negotiated and closed the purchase of Summit Court, a 393-unit luxury multifamily property in Union Township, New Jersey, a northern suburb located approximately 25 minutes from Manhattan. Mark Cosenza, senior vice president of Inland Acquisitions, completed the transaction, with assistance from Michael A. Wilson and Gina R. LaMantia of Equis Law Group, LLC, on behalf of an Inland affiliate.

Located at 450 Clermont Terrace, Summit Court is comprised of 210 one-bedroom and 183 two-bedroom units. Each unit features nine-foot ceilings, smart lock systems, stainless steel appliances and a full size washer and dryer. Constructed in 2018 and 2023, the property boasts an array of luxury amenities including a heated resort-style pool and deck, a state-of-the-art fitness center with Peloton bikes, firepits and lounge seating, a game room with billiards, a pet grooming room, BBQ grills and picnic area, indoor bike storage and EV charging stations.

“Summit Court is an optimal living destination for residents,” said Cosenza. “With seamless access to major highways and a plethora of shopping, dining and entertainment options, this community’s desirable location in Union Township, combined with luxury resort-style finishes, make this the type of multifamily property we continue to seek for acquisition.”

Summit Court offers residents convenient access to prominent transportation routes, including the Garden State Parkway, Route 9, I-95 and is one mile from the New Jersey Transit Union Rail Station that stops at both Newark-Penn Station and NY Penn Station. The property is also ideally located near major employers including Newark Liberty International Airport, Seton Hall University, Kean University and Newark Beth Israel Medical Center.

At closing, Summit Court was 93 percent occupied.

Since inception, Inland Acquisitions has facilitated more than $55 billion of purchases across all asset types, with a more recent focus on student housing, multifamily, self-storage, senior living and manufactured housing communities.

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About Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups, which is comprised of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored and managed by such entities or subsidiaries thereof (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.