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C6, Citymark pay $27M for apartment community in Garfield

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River Edge at Garfield, 600 Autumn Lane, Garfield.
River Edge at Garfield, 600 Autumn Lane, Garfield. - ()

C6 Real Estate Partners, formerly known as Carbon Capital Group, recently announced it has closed a 100-unit apartment community sale in a joint venture with Citymark Capital. The firms acquired River Edge at Garfield, located at 600 Autumn Lane, for $27 million.

“River Edge is a rare off-market acquisition of luxury multifamily units in tightly constrained Bergen County,” Brian DiSalvo, C6 principal, said. “We are excited to bring institutional ownership and a new management standard to the value creation plan for this asset.”

C6 said it will manage all aspects of investment and execution on behalf of the partnership.

“The property benefits from being part of a larger master-planned community that includes luxury condos, and is positioned as best-in-class from a quality of life and amenity asset,” DiSalvo said.

River Edge at Garfield, according to C6, enjoys direct access to interstates 80 and 95 and routes 21, 4 and 3.

“Citymark Capital is delighted to partner with a great company like C6 to bring attractive, institutional-quality apartments to the greater New York City area,” Citymark Capital founder and CEO Dan Walsh said. “This aligns with our national platform of investing in leading U.S. markets and taking a disciplined approach to generating solid returns for our investors.”

C6 maintains offices in Jersey City and Garfield.

Citymark Capital is based in Cleveland.

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Mario Marroquin

Mario Marroquin

Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is mariom@njbiz.com.

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