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.

Finance & Capital Markets
W&D: PRC refinances new 162-unit Bayonne rental property for $36 million

The PRC Group has snagged $36 million in financing for a new 162-unit luxury apartment complex in Bayonne, in a deal arranged by Walker & Dunlop.

Residential & Mixed Use
Fennelly named broker for residential development sites in Hamilton, South Brunswick

A development site with approvals for 166 new apartments is on the market for sale in Hamilton, in one of two newly announced offerings by Fennelly Associates.

Finance & Capital Markets
JLL: Panepinto lands $193 million construction loan for 605-unit Journal Square tower

Panepinto Properties has secured a $193 million construction loan for a planned 605-unit luxury apartment tower in Jersey City’s booming Journal Square neighborhood.

Residential & Mixed Use
Denholtz acquires newly built, 214-unit luxury rental property in North Bergen

Denholtz Properties has added to its apartment portfolio after acquiring a newly constructed, 214-unit property in North Bergen.

Residential & Mixed Use
Russo, Dinallo hit 60 percent leased mark at new Orange apartment building

The developers of a new 209-unit apartment building in Orange are off to a fast start after the launch of leasing, having rented more than 60 percent of the property in just three months.

Editor’s Note
Adaptation

The glory days of near-zero vacancy and hard-to-fathom rent growth in the industrial market always came with the slightest bit of tension, especially among veteran landlords who know full well that nothing lasts forever. And with good reason, as we now know, as the asset class grapples with new headwinds that may not have seemed likely only two years ago.

Finance & Capital Markets
TD pledges $2 billion to affordable housing, lending programs alongside NJCA, HCDNNJ

TD Bank has pledged $2 billion toward affordable housing, affordable mortgage lending and other investments aimed at supporting lower-income communities in the state, under a partnership announced this week with two influential advocacy groups.

Residential & Mixed Use
Premier Development launches sales at new luxury housing community in Readington

Premier Development has launched sales at a new residential community in Readington, offering a collection of 39 luxury homes with prices starting in the $900,000 range.

Residential & Mixed Use
Accurate welcomes first renters to new 185-unit Little Falls rental property

Accurate has opened the doors to its new 185-unit upscale apartment property in downtown Little Falls, marking the latest addition to its fast-growing rental portfolio.

Retail
Fort Lee retail center with multifamily zoning on the market for sale, JLL says

The site of a busy shopping center in Fort Lee is on the market for sale, with the potential for redevelopment as a multifamily property at the foot of the George Washington Bridge.