Australian property fund is BULLISH on the Hoboken/JC single and multi family real estate market

Very few people know of one of the more enigmatic players in the the single family and multi family housing market in Hoboken and Jersey City: the Australian property trust fund US MASTERS. The company entered the local property market around 2012, scooping single family and multi family homes at the bottom of the real estate bust. They then rehabbed and rented them out, primarily through their agency, Dixon Leasing and their preferred broker. They now own about $500 million or around 500 properties in the NYC metro area, including Brooklyn, Queens, Union City, Jersey City and Hoboken.

While the primary strategy of the company has been rehabbing and renting, last summer, the fund put several unrenovated properties on the market, including 3 in one week in August. This led me to wonder: was a major institutional property buyer cashing out of our real estate market?

However, despite the hot market, only one was sold (another is pending). The rest were withdrawn, even 609 Willow, which had received multiple offers. The company's year end statement noted that only seven properties in their investment portfolio were sold in the NYC area, but they are reinvesting the proceeds back into our real estate market. In addition, they have raised $150 million to invest in additional units.

In short, one of the largest institutional buyers of single and multi family homes is still bullish about the real estate market. They are investing an additional $150 million into it. They want to buy/hold and rent out their portfolio. In fact, today, they listed two premier properties in Hoboken: 208 Hudson St, for $10,995 per month, and 520 Bloomfield St. listed at $11,995 per month. They are absolutely stunning. Do you think they will get asking rent? Want to see them? Let me know.