NJ Investors Play a Part in Newark Redevelopment
Clifton, NJ – May 15, 2012 – (RealEstateRama) — Well on their mission to provide affordable housing for families throughout Northern NJ, Clifton based real estate investment group, RER, LLC, closes on their purchase of a multi-unit, short-sale property— the second asset located on Littleton Avenue in Newark’s Fairmount Section that the company has acquired.
Newark, NJ, May 7, 2012— On their pursuit to provide affordable housing for NJ’s deserving families, RER, LLC, a real estate investment and consulting firm based in Clifton, NJ, has acquired a short-sale asset on Newark’s Littleton Avenue. One of two properties that the firm has purchased on the street, the asset is located within the city’s Fairmount neighborhood, where amidst the foreclosures and bank owned homes is the looming housing opportunity brought about by the municipality’s plans for redevelopment, this including the merging of Newark’s two biggest universities, UMDNJ and Rutgers.
“We see the potential in Newark. Mayor Booker has big plans for the city, a lot of which are already in place. We want to contribute to this redevelopment by taking properties that have been neglected— whether it’s because they’re bank-owned, foreclosed, distressed, etc.— and converting them into quality housing for Newark families. This way, the resolution to these untended homes benefits everybody,” stated RER, LLC Founder, Ankit Duggal. “Our plans? Keep buying, fixing, and providing.”
By completing this acquisition, RER, LLC has, not only played a part in the advancement of Newark, it has also helped a distressed homeowner avert a foreclosure and continue to maintain a clean financial record.
The Littleton assets are two of many that the firm has purchased and updated in the city. Today, RER, LLC continues to locate, acquire, renovate, and reposition properties in an effort to improve neighborhood conditions while providing homes for New Jerseyans.
For more information about RER, LLC, call (973)-894-3004, or email jgonzales (at) rernj (dot) com.
