Finance & Capital Markets

With an ever-growing and ever-changing pool of investors, capital markets activity in New Jersey is thriving like never before.

JLL inks $30 million loan for buyers of Giralda Farms office building

A joint venture has landed nearly $30 million in financing for its recent purchase of an office building in Madison’s acclaimed Giralda Farm campus, according to brokers with JLL.

What you need to know today: the like-kind exchange strategy

A 1031 exchange (like-kind exchange) is one of the most significant tax advantages available to a real estate investor selling a property with large realized gains.  By implementing this tax strategy, it is possible to defer tax payments on the sale of an investment property indefinitely. While like-kind exchanges are common, there are still many complexities to navigate.  Given some of the proposed legislative changes put forth by the Biden administration and members of Congress, it may make sense to accelerate transactions into the 2021 tax year.

Sussex County apartment owner refis for $31 million, Progress says

The longtime owner of a 240-unit apartment complex in Sussex County has refinanced for more than $31 million, according to a debt placement team with Progress Capital.

Denholtz expands construction, finance teams with five new hires

Denholtz Properties has announced five new hires, with an eye toward bolstering its internal construction and finance teams in the wake of the pandemic.

Cronheim sources $9.6 million loan for Vineland shopping center deal

A grocery-anchored, 140,000-square-foot retail center in Vineland has changed hands with the help of more than $9.6 million in financing, according to brokers with Cronheim Mortgage.

JLL: Owner of three Raritan Center buildings in Edison refis for $14 million

The owner of three industrial buildings in Edison’s Raritan Center has refinanced for $14.35 million, in a transaction arranged by JLL.

C&W arranges joint venture equity for 718-unit workforce housing portfolio in East Orange

The owner of a 718-unit, 11-building multifamily portfolio in East Orange has secured new partners, in a transaction arranged by Cushman & Wakefield.

JLL inks $13 million refi for Jersey City apartment building

The owner of a 40-unit luxury apartment building in Jersey City has secured $13 million in financing, under a newly announced transaction by JLL.

Stro, KRE refinance Clifton cold storage building for $42 million

The Stro Cos. and Kushner Real Estate Group have secured $42 million in financing for a fully leased, 220,000-square-foot cold storage facility in Clifton.

Kennedy Funding inks $3 million land loan, using Caribbean parcel as collateral

Kennedy Funding has closed $3 million in financing to the owner of a private residential development site in the Hamptons.