Teaneck's Heritage Pointe Purchased for $39.1 million

TEANECK, N.J. — Heritage Pointe, a 142-unit senior citizen building on Frank West Burr Boulevard, sold for $39.1 million to the Carlyle Group of Washington, D.C., northjersey.com reports.

Heritage Pointe in Teaneck
Photo Credit: *Facebook*

Ken Davis

08/19/2015 4:00 a.m.

The four-story building, which sits on 6.6 acres near the Glenpointe Marriott, is 97 percent occupied, according to the seller's agent, commercial real estate brokerage Holliday Fenoglio Fowler. The brokerage also arranged $33.2 million in financing for the buyer.

Heritage Pointe is a full-service retirement community for seniors. Some of the services it offers its residents include meals, transportation and housekeeping.

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