Residential & Mixed Use

The construction boom in New Jersey is no more evident than in the multifamily and mixed-use sector, thanks to changing demographics and the demand for urban-style living, even in the suburbs.

Government & Public Policy
Developer groups laud Sherrill, DEP for one-year delay of controversial flood elevation rules

By Joshua Burd State officials are delaying new land use and flood protection rules that were due to take effect this summer, in a major win for commercial real estate and business groups and a bipartisan coalition of lawmakers and mayors…

Residential & Mixed Use
Veerman: Affordable housing investor buys 61-unit portfolio in Robbinsville, Montgomery for $6 million

A private investor has expanded its affordable housing portfolio in New Jersey, acquiring a combined 61 units across two properties under a deal arranged by Veerman Asset Management.

Residential & Mixed Use
Veris Residential goes private after $3.5 billion acquisition by Affinius, Vista Hill consortium

Investors have closed on their $3.5 billion acquisition of Veris Residential Inc., bringing the company private after its multiyear overhaul of a once-sprawling portfolio.

Residential & Mixed Use
Cervelli Real Estate adds to management portfolio with three-property assignment in Jersey City

The longtime owner of three apartment buildings in Jersey City has tapped Cervelli Real Estate & Property Management to help spearhead operations for the portfolio.

Residential & Mixed Use
Adoni sells 52-unit Franklin Lakes rental property for $29 million, Cushman says

Adoni Property Group has sold a 52-unit luxury apartment building in Franklin Lakes for $29 million, in a newly announced deal by Cushman & Wakefield.

Residential & Mixed Use
ICON: Jebara sells 46-unit Long Branch rental building, retail space for $19.4 million

A developer has sold a new 46-unit apartment building and an adjacent retail asset in Long Branch, according to a listing team with ICON Real Estate Advisors.

People
Prism promotes Castiglia to chief financial officer

Prism Capital Partners has named longtime team member Anne Castiglia as its chief financial officer, a move that coincides with a period of significant growth for the Nutley-based firm.

Retail
East Orange project lands Burlington, Five Below amid 75,000 sq. ft. of new retail leasing

Retailers are flocking to The Crossings at Brick Church Station in East Orange, accounting for nearly 75,000 square feet of leasing activity at the transformative mixed-use project.

Residential & Mixed Use
Kontos Group lands key approval, moves closer to start of 80-unit Linden rental project

The Kontos Group is advancing a project that would bring 80 new apartments to Linden, seeking to revitalize a site in one of the city’s key commercial corridors.

Residential & Mixed Use
Marcus: Investor completes 1031 exchange, buys Carlstadt rental building for $1.3 million

A cash buyer has purchased an eight-unit apartment building in Carlstadt for $1.325 million, in a newly announced deal by Marcus & Millichap.