JP 3E Holdings Inc (JPTE)

[I ll be back]

Crazy strong is not necessary tied to location as much has the quality or in this case the lack of quality of the housing development.

In most of New Jersey (can't comment specifically about the Hamilton project area) the apartment rental market continues to be crazy strong. "Luxury" buildings fill up almost immediately with rents on a 1 bedroom approaching $ 3,000 a month. I've seen new 3 bedroom townhomes renting for more than $ 6k a month. None of these are student housing through which I believe was the target market for Hamilton Street.

The Hamilton apartments I believe were built as a student housing development. Based on the management's website photos, I can tell you that this property is a "mixed use" low end type of construction. Which would support why they can't pay their bills.

I've built a number of mix use (commercial & residential) and can tell you that if the developer and architect don't take steps to design it correctly with the necessary attention to having a "restaurant" or beauty salon in the commercial space, your residential tenants will be driven out due to the smells and noise.