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 Gebroe-Hammer Associates Download Word Doc: Click Here Release Date: November 7, 2007 GEBROE-HAMMER DEAL VELOCITY DURING THIRD QUARTER PRODUCES 31 TRANSACTIONS VALUED IN EXCESS OF $327 MILLION IN SALES LIVINGSTON, N.J., November 7, 2007 – Gebroe-Hammer Associates is heading for another record year of activity with 31 sales that culminated in the third quarter of 2007, valued at approximately $327 million. The transactions, which involved more than 4,100 units across five states, demonstrate how deal velocity has remained high in the multi-family market despite recent challenges in the financial markets. In most cases, Gebroe-Hammer brokers represented the sellers and procured the buyers, and as always, they provided in-depth services from start to finish. “At this point in time, the multi-family industry is very healthy, notwithstanding the current credit market climate,” said Ken Uranowitz, managing director. “As a result, many owners who would ordinarily hold onto their properties, are now entering the market, looking to capitalize on low-interest rates, high-liquidity opportunities and strong demand from buyers and capital sources.” A prime example of this trend was the sale of New England Village apartments in affluent Summit, N.J. This transaction marks the first time the 16-building, 133-unit property, built, owned and managed by the same family for 50 years, has been sold. The final sale price for the property was $30 million, more than $225,000 per unit. Other transaction highlights included one of the biggest deals of the year, the sale of the 31-building, 1,798-unit Lynnewood Gardens apartment complex in Elkins Park, Pa., for $135 million. Additionally, Gebroe-Hammer brokered $71 million over 14 transactions in urban centers including the Philadelphia market, Jersey City, Union City, Elizabeth and East Orange. Suburban activity was also strong with two deals involving record breaking per-unit prices: 167 E. 31st Street, a 12-unit apartment complex in Paterson sold for nearly $92,000 per unit for a total of $1.1 million and Van Ness Apartments, an 88-unit garden apartment complex in Maplewood, sold for $13 million or just under $150,000 per unit. “Buyers have been seeking to capitalize on the current market strength,” added Robert Ploshnick, also a managing director. “The business has been so tight that we have had regional investors looking outside their traditional markets for prime real estate.” The activity, evaluated by state, included:
An industry leader for more than three decades, Gebroe-Hammer is among the tri-state region’s most influential brokerage firms, specializing in the sale of multi-family, retail and commercial investment properties. The company provides innovative brokerage services to a wide range of private owners, REITS, private equity firms and other institutional investors. Gebroe-Hammer’s proven track record on behalf of its clients has resulted in consistent growth every year since its inception, with a large percentage of repeat business from owners and investors. The firm’s brokerage activity encompasses diverse property categories, ranging from suburban high-rise, mid-rise and garden-apartments to retail and office properties including real estate in urban areas undergoing revitalization and redevelopment initiatives. The company’s prime geographic area of focus includes New Jersey, Pennsylvania and New York, with additional transactions nationwide as well as representation of owners located around the globe. ### Gebroe-Hammer Associates 
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