MORRISTOWN, N.J., Jan. 8, 2026 –  JLL Capital Markets announced today that it has secured the $80 million sale and $56 million acquisition financing for SilverLake Apartments, a 232-unit Class A market-rate community in Belleville, New Jersey.

JLL worked on behalf of the seller, Klein Enterprises. JLL also represented buyer, Sym Investments, to secure the five-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo® Lender.

SilverLake Apartments, located at 155 & 165 Belmont Ave. in Belleville, Essex County, offers exceptional connectivity to major employment hubs in Northern New Jersey and New York City. The property sits just steps from the SilverLake Light Rail Station, providing residents with a 15-minute ride to Newark Penn Station and a total 40-minute commute to New York Penn Station. The community also offers easy access to major highways, including Route 21, Interstate 280 and the Garden State Parkway.

Essex County continues to be a highly desirable suburban market with an average household income of $129,524, where 56% of households are renters. The immediate submarket in Upper Essex County boasts consistently high occupancy rates, currently averaging over 95.7%.

Built in 2021, SilverLake comprises two five-story buildings with a diverse mix of studios, one- and two-bedroom apartments totaling 177,519 square feet of rentable space. The property features premium appliances, elevated ceilings and in-unit washers and dryers, alongside amenities such as a lounge, outdoor courtyard, fitness center and business center. The community is currently 94% leased and benefits from a Tax PILOT agreement with 27 years remaining.

Additionally, SilverLake includes 17,024 square feet of commercial space that is 100% leased, with a regional tenant occupying 71% of the space under a secure lease through 2035.

JLL Capital Market’s Investment Sales and Advisory team was led by Senior Managing Directors Mike Oliver, Steve Simonelli and Jose Cruz, Directors Elizabeth DeVesty and Austin Pierce. Senior Managing Directors Michael Klein and Thomas E. Didio Jr., Senior Director Gerard Quinn and Senior Analyst Joseph Gruber arranged the financing.

"SilverLake represents a premier Class-A apartment community in one of New Jersey's most well-connected suburban markets," said Oliver. "The property's strong occupancy, favorable PILOT structure and proximity to major employment centers make it an exceptional investment opportunity."

“The opportunity saw strong competition from a range of debt capital sources, including banks, agencies, life insurance companies and alternative lenders,” added Quinn. “This is further evidence of lenders' strong appetite to lend on well-located, high-quality multifamily assets."

"We are pleased to add another recently developed multifamily asset to our Northern New Jersey portfolio. This acquisition allows us to capitalize on the region’s continued growth with an institutional-quality property," stated Leon Mayer of Sym Investments.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Klein Enterprises is a 75-year-old, fourth-generation company with nearly 60 assets comprised of over 6 million square feet including 3.5 million square feet of commercial properties and approximately 3,000 Class A multifamily units owned or in development. Based in Baltimore, Klein Enterprises is actively expanding its portfolio and benefits from decades of expertise in acquisitions, development, management and leasing.

SYM Investments is a boutique real estate investment firm focused on transparency, disciplined execution, and consistent results. Founded in 2015, the firm specializes in acquiring assets at an attractive basis relative to comparable properties while delivering strong, risk-adjusted returns for its investors. In recent years, SYM Investments has actively acquired institutional-quality assets, with total acquisitions approaching $1 billion, and has completed more than $250 million in asset sales over the past five years. The firm has managed over 2,200 multifamily units across the tri-state area, along with more than 100,000 square feet of commercial real estate, and attributes its growth to a long-term, investor-focused approach and strong operational execution.