Tuckerman finds investors 'irreplaceable' $149m assets.

Purchase, NY-headquartered, The Tuckerman Group, a real estate investment management and advisory firm and a member of State Street Global Alliance, LLC, announced that one of its European-based institutional clients has acquired Chambray Apartments and Meritage Apartments, two adjacent developments in Rancho Cucamonga, Calif., for $149,200,000.

Chambray Apartments, which consists of 270 garden-style apartments, and Meritage Apartments, which consists of 319 units, were developed and sold by a joint venture between Fairfield Residential and a public pension fund advised by Heitman. The two projects were completed in 2006. "As a firm that continually strives to identify the most optimal real estate investment options, we're pleased to have provided this client with these two irreplaceable properties for their portfolio," said Chip Lauckhardt, chairman and chief executive officer of The Tuckerman Group.

"We seek out areas of the market which contain characteristics that are the most promising in terms of potential investment return for our clients."

"These apartment communities are part of a large collection of real estate projects throughout the U.S. that we've sought out with the aim of generating the greatest possible investment returns," said Glen Weisberg, senior managing director of The Tuckerman Group.