ICON Real Estate Advisors, a newly formed multifamily investment sales firm led by longtime former Gebroe-Hammer Associates principals, has launched operations in the Mid-Atlantic region. The West Orange-based firm marked its debut by arranging the $35.1 million sale of The Grove at Piscataway, a Class A 110-unit apartment community in Piscataway.
ICON represented the seller, a privately held real estate development and investment firm, in the transaction. Delivered in 2020 and currently 100% occupied, The Grove at Piscataway is located at 67 Old New Brunswick Road. Quietly marketed at the seller’s request, ICON presented multiple offers and guided the seller in selecting a buyer completing a 1031 exchange.
Headquartered at 1 Boland Drive in West Orange, ICON was co-founded by Managing Partners David Oropeza and David Jarvis. Collectively, the firm’s partners bring more than 100 years of experience and over $20 billion in combined career transaction volume.
Oropeza spent 38 years at Gebroe-Hammer Associates, consistently ranking among the firm’s top producers and playing a pivotal role in expanding its presence across New Jersey. He later joined Cushman & Wakefield as an executive managing director of multifamily brokerage, further enhancing his institutional brokerage experience.
Jarvis spent more than 25 years at Gebroe-Hammer Associates and later joined Cushman & Wakefield as an executive managing director, advising a broad range of institutional and private clients on the acquisition and disposition of multifamily assets.
They are joined by Managing Director Justin Lupo, who previously co-led Cushman & Wakefield’s Northeast multifamily platform, Director David Betesh, and Associate Ben Susskind. The team advises private owners, family offices, and institutional investors throughout the Mid-Atlantic region.
“Our objective in forming ICON was to build a partner-led platform where experience, relationships, and execution define the business,” said Oropeza. “The Grove at Piscataway demonstrates our ability to run a competitive process that highlights an asset’s fundamentals and delivers results aligned with the seller’s objectives.”
Jarvis added, “Many of the owners we represent are making decisions involving decades of work and generational assets. They deserve senior-level attention and a process designed to create competition and deliver certainty.”
ICON Real Estate Advisors Launches, Arranges $35.1M Multifamily Sale – New Jersey Business Magazine
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