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
Westfield council greenlights HBC redevelopment of Lord & Taylor site, nearby lots

Local officials in Westfield have cleared the way for the Hudson’s Bay Co. to redevelop a vacant Lord & Taylor site and several adjacent blocks downtown, with plans calling for more than 300,000 square feet of office space and some 200 residential units.

Finance & Capital Markets
Developers ink $58 million refi of 240-unit Journal Square rental building, JLL says

The owners of a six-year-old, 240-unit luxury apartment building in Jersey City have closed on $58 million in financing for the property, according to a debt placement team with JLL.

Finance & Capital Markets
BLT lands $257 million Greystone loan for The Beacon in Jersey City, C&W says

The owner of the nearly 1,200-unit apartment complex known as The Beacon in Jersey City has snagged more than $257 million in financing, brokers with Cushman & Wakefield announced.

Finance & Capital Markets
Developer of 203-unit Newark rental tower inks $50 million construction loan, FM Capital says

A developer has secured nearly $50 million in financing for a planned 203-unit apartment building in Newark’s University Heights section, in a deal arranged by FM Capital.

Residential & Mixed Use
Kislak: Bayonne development site approved for 197 rentals fetches $10 million

A developer has sold a series of parcels in Bayonne where city officials have approved plans for nearly 200 new apartments, in a deal arranged by The Kislak Co. Inc.

Residential & Mixed Use
Cervelli tapped as property manager by owners of Weehawken apartments

The owner of nearly 50 apartments in Weehawken has tapped Cervelli Real Estate and Property Management as its agent at the property, in one of two new assignments for the firm.

Residential & Mixed Use
Skyline wins key approvals for Jersey City project with 420 rentals, community space

A development that would bring 420 new apartments, market-style retail space and a recreation center to Jersey City is moving ahead after securing two key local approvals.

Health Care & Education
Speech, language therapy business takes space at Eastampton apartment building

A speech and language therapy practice has signed a lease at the base of an apartment building in Burlington County, according to a broker with Vantage Commercial.

Residential & Mixed Use
Construction begins on new 125-unit Princeton apartment project, WinnCompanies says

WinnCompanies has broken ground on a $63 million project that will bring 125 luxury apartments to Princeton, with plans to expand a nearby park as part of the development.

People
Larken promotes Dorell to director of design

Larken Associates has promoted Jillian Dorell to director of design, touting her role in several of the commercial real estate firm’s recent development projects.