NEW JERSEY—Treetop Development, based in Teaneck, N.J. has acquired a 1008-unit, HUD apartment complex in Plainfield for $9.8 million. The purchase is the company’s first in Union County.
Steven Fleissig of Greenberg Traurig represented Treetop Development in the transaction.
Located at 825 East Front Street, the buildings include one-, two- and three-bedroom units. Treetop plans a capital improvement program for the acquisition, which will include landscaping, new roofs and interior upgrades that will include refinishing hardwood floors, installing new kitchens and renovating bathrooms.