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Recent Transactions

PURCHASED - September 2023

Aspen Real Estate strikes again on the TenX platform with 1st ever CMBS Assumption


Aspen was the winning bidder on the TenX auction platform for the purchase of 2 & 6 Terri Lane, Burlington , NJ. The purchase involved a 57,600 sf warehouse building and a 25,000 sf office building. 


The purchase involved the first ever assumption of a defaulted CMBS mortgage as part of the purchase. Aspen assumed the debt with 4.90% interest rate at 80% of the purchase price.


This the 4th property Aspen has purchased on an auction platform. Three of the properties involved defaulted mortgages.  


6 Terri Lane is currently occupied by office tenants. Aspen will be vacating the office tenants and converting 6 Terri back to warehouse space. Aspen will sell the 57.600 sf bldg. to a warehouse user.


2 Terri is 65% leased at purchase and Aspen has already drafted a lease for ½ the vacant space. Aspen will be bringing this building back to market as soon as the new lease is signed.

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SOLD - January 2023

Aspen Sells 140,000 sf Shopping Center

Vineland, NJ

Aspen completed the sale of the Maintree Shopping Center and locked in a return of 66% on LP capital over a 2 year period. Our investment strategy exceeded our original projection of a 44% return over 2 years.


The property was anchored by an Acme Supermarket which drew numerous buyers for the property. 4 pads were also included – Burger King, Pizza Hut, Boston Market, Med Express.


We have investment opportunities available in various properties. Call for more information.

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SOLD - November 2022

Aspen Reaches Agreement on the Sale 

of 260 Industrial Way.

Aspen's sale of the 100,000 sf, Eatontown, NJ property locked in a 240% Return on Investment to Limited Partners over a 4-year investment period. Averaging 60% per yr.


Distributions from cash flow during the 4 years equaled 40% per year on invested capital. 


Aspen originally acquired the property by purchasing a defaulted mortgage and foreclosing on the mortgage note. The property was sold vacant. It has a unique layout of 2 - 50,000sf floors with direct entry on both the 1st and 2nd floors. 

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ACQUIRED - November 2022

239,000 sf Supermarket Anchored Park Hills Shopping Center - Altoona, PA

  • 16 Current tenants including 4 anchor tenants 
  • Three vacant units totaling 33,780 sf.

  • Main roadway location

  • All major tenants have low rents

  • Weis Supermarket only pays $3.80 Net PSF

  • Tenants have low operating costs and low real estate taxes

  • $1.5 million Existing NOI  / $1.95 million Projected NOI

  • 9% Cap Rate at purchase 

  • 11.25 % Cap Rate after lease up and renewals

  • Projected Distribution: Starting at 8% PA, increasing to 15% as vacant space is leased

  • Projected Total Return: 20% Per Year average return to Limited Partners, includes profit from resale

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ACQUIRED - March 2022 

262,000 sf Shopping Center

Memphis, TN

  • Home Depot shadow anchored

  • Ross, DDs , Conns, Five Below, Milano Men's

  • Pur Price $16 mil - 9% Cap

  • 90% occupied at purchase  

  • Strong mix of discount retailers

  • 75,000 VPD

  • Below mkt rents

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ACQUIRED - Janury 2022 
138,455 sf Grocery-Anchored Shopping Center

Vineland, NJ

  • Acme Supermarket Anchored fund

  • 78% Investment Grade tenants

  • Internet-resistant tenant mix 

  • Potential to sell four pad site locations

  • Urban Enterprise Zone with low sales tax rate

  • Densely populated Southern New Jersey market

  • Tenants include Burger King, Pizza Hut, Boston Market, Med Express

ACQUIRED - June 2020 
220,000 sf Shopping Center Freehold, NJ
  • Trophy asset

  • Comprised of 4 buildings on 25.58 acres

  • 71% Leased at Purchase

  • Modernization underway to achieve 100% leased status

  • Aldi and several other leases already signed

  • Projected to return 200% over 4 years

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ACQUIRED - November 2019 
185,000 sf Office Building

Monmouth Co, NJ/Parkway Corridor

  • Class A Office 

  • 11% Cap Rate at Purchase

  • $3.3 Million NOI

  • No lease expirations for 5 years

  • 100% leased to 4 companies

  • Unique 50,000 sf floor size

  • $26.25 million purchase price

  • $8 Million total capital investment

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65,000 sf Office Freehold, NJ

Arranged the purchase of this Class A 90% occupied office building with below market rents.

Renovated the common areas to bring back to Class A status. 

Increased rental rate.

Aspen oversees mgt. for the owner.

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35,000 sf Retail & Office, Aberdeen, NJ

Purchased 25% vacant with below market rents. Added a restaurant & constructed a 5,000 sf yoga studio.

Increased occupancy to 87%.


Sold May 2018 and generated 100% return on partner's capital over 2.5 yrs.

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42,000 sf Office Eatontown, NJ

Purchased 60% vacant and in need of significant renovation at $36 psf. 


Sold 4 years later and generated 100% return on partner's capital.

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ACQUIRED 40,000 sf Office
Freehold, NJ

Arranged the purchase of this recently constructed Class A, 95% occupied office building.

No upgrades or renovation needed

Generating strong cash flow.

Aspen oversees mgt. for owner. 

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SOLD 33,000 sf Medical
Rutherford, NJ

Medical building in highly desirable Meadowlands submarket location: Close to major highways and NYC. Completely renovated. 100% occupancy.  Established medical tenants committed to the property. Generating strong cash flow.  

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11,000 sf Office
Emerson, NJ
Converted warehouse building to office space. Currently 100% occupied. Generating strong cash flow. 
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Ground Up Construction 50,000 sf
Multi-tenant flex building. Sold units as commercial condos. 100% Sold/rented.
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ACQUIRED 10,000 sf Office
Manalapan, NJ

Purchased 60% vacant and in need of renovation.


Sold 2 yrs later and generated 100% return on partner's capital.

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