Summit Plaza Apartments625-27 Summit Avenue
Jersey City, NJ LP Solutions Fund
Summit Plaza is a 483-unit property with a 100% Section 8 subsidy located in the Journal Square section of Jersey City, New Jersey. The property had fallen into disrepair and was in need of substantial capital improvements.
LP Solutions Fund was solicited by the major Partner to maximize sales proceeds of their interest and during the initial negotiations the General Partner decided to sell their interests as well. LP Solutions Fund structured significant all-cash proceeds while creating a tax-efficient sales structure for the Partners. In order to achieve this LP Solutions Fund acquired most of the debt on the tiered partnership. This is a prime example of how LP Solutions Fund exhausts all options to maximize sale proceeds for any exiting partners.
SUMMIT PLAZA APARTMENTS
625-27 Summit Avenue
Jersey City, NJ
LP Solutions Fund