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Prism Partners sells Edison Lofts in West Orange for $131M

The deal includes a $91.7 million acquisition loan from New York Life with a full-term interest-only structure.

Reported · Written up by our desk · Residential

ConnectCRE reports that Prism Partners and its capital partners sold Edison Lofts, a luxury multifamily community in West Orange, New Jersey, for $131 million.

The property totals 334 apartments across two residential buildings at 33 Ashland Ave., and it also includes nearly 19,000 square feet of retail space.

Cushman & Wakefield arranged the investment sale and represented both the seller and the buyer, Sym Investments, with its teams covering equity, debt, and structured finance.

As part of the transaction, Cushman & Wakefield arranged a $91.7 million acquisition loan featuring a full-term interest-only structure from New York Life.

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