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.

Bolstering the ranks

As you’ll read in this month’s cover story, Prologis’ growing team is supporting a portfolio that now spans 44 million square feet across 200 properties in New Jersey and New York. Growing that footprint will come in a number of ways, Harty said, including the types of creative, value-add projects that involve redeveloping former office campuses. That, in turn, requires additional development and construction personnel like the kind that Prologis has added in recent months. And it comes as the company also hires for what’s known as its Essentials platform, which provides services to tenants such as helping them source materials for their building fit-outs, in a bid to engage them “beyond the four walls and the real estate.”

JLL: Buyer inks $32 million loan for purchase, renovation of Hackensack rentals

The new owner of a 198-unit garden apartment complex in Hackensack has landed nearly $32 million in financing for the acquisition and for its plans to renovate the property.

Denholtz adds 384-unit luxury rental property outside Nashville, in latest Southeast deal

Denholtz Properties has continued its out-of-state expansion with the acquisition of a newly built, 384-unit apartment property outside Nashville, the Red Bank-based firm announced.

Larken eyes mid-2023 groundbreaking for new 120-unit Warren County multifamily project

Larken Associates has received local approvals to build 120 new apartments in Pohatcong, as it looks to add to its multifamily portfolio in Warren County and across the region.

Developer lands $10 million construction loan for 44-unit Jersey City rental project

The developer of 44 new luxury apartments in Jersey City’s West Side neighborhood has secured nearly $10 million in construction financing, brokers with JLL announced.

Veteran broker joins Sheldon Gross as V.P. for multifamily sales, redevelopment

Sheldon Gross Realty has named a new vice president for multifamily investment sales and redevelopment, the West Orange-based firm announced.

Russo details start of 297-unit rental project at Newark’s Broad Street station

Russo Development has broken ground in Newark on a project that will bring nearly 300 apartments to a site just north of Interstate 280 and NJ Transit’s Broad Street station.

Renaissance Properties adds three tenants at Burlington County town center project

Three new retail tenants are coming to Renaissance Properties’ mixed-use, downtown-style development in the Burlington County township of Chesterfield.

AST Financial, Summit Capital tout $51 million in homebuilder loans year to date

Lending platforms AST Financial and Summit Capital Partners have closed more than $51 million in construction financing year to date in 2022, the firms announced Tuesday.

Accurate hits milestone, leases 200 units at new Linden rental property

Renters have leased more than 85 percent of a new 234-unit luxury apartment property in downtown Linden, development firm Accurate announced this week.