A developer has landed $39 million in construction financing for a new 200-unit apartment complex in Middlesex County, under a newly closed transaction by Procida Funding.
A joint venture has secured $100 million in financing for a newly delivered, 236-unit apartment building along the Hudson waterfront, in a newly announced transaction by M&T Bank.
Renters have flocked to one of Newark’s latest and most distinctive apartment buildings, having leased more than 50 percent of the units at a converted historic office tower on Broad Street.
Two tenants have leased a combined 51,000 square feet at a recently upgraded office building in Edison, under a set of transactions announced by Newmark Knight Frank.
Alfred Sanzari Enterprises has promoted a member of its property management team, expanding her role in overseeing its 2 million-square-foot commercial holdings.
When the Tax Cuts and Jobs Act was passed, a new tax deferral vehicle was created where taxpayers could defer paying tax on capital gains income by reinvesting these gains into Qualified Opportunity Zones (QOZ’s) through an investment into a Qualified Opportunity Fund (QOF). This new provision in the Internal Revenue Code has many taxpayers curious as to how they may be able to benefit from QOZ’s. With this curiosity, the question of whether QOZ incentives are better than Section 1031 exchanges for real estate reinvestments is often asked. The answer to this question is “it depends” on the specific facts and circumstances of your particular tax situation. This article will focus on the positives and negatives when comparing these types of tax deferred reinvestments to assist in drawing some conclusions.
It’s been very well publicized that the Tax Cuts and Jobs Act (TCJA) enacted a new opportunity to incentivize real estate investment and development in low-income communities across the country. In October of 2018, the IRS published proposed regulations on this program that provided direction to taxpayers, although many questions were left unanswered. In April of 2019, the IRS sought to address many of those questions by publishing a second set of proposed regulations which provided needed clarity on conducting an operating business within a Qualified Opportunity Zone (QO Zone) and structuring a Qualified Opportunity Fund (QO Fund).
A growing restaurant chain and a nail salon are joining a Jersey City shopping center, having leased a combined 10,000 square feet at the 95,000-square-foot complex.
Users in New Jersey’s booming industrial sector have faced a severe lack of supply in recent years, leading to unprecedented rent growth and an unabated race to find development sites. New space is on the way — and plenty of it — with millions of square feet slated to come online in the next two years. Yet market experts say demand will continue to outpace supply, given the continued upside of e-commerce and a race by traditional retailers to update their supply chains.