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.

Professional Services
Berkadia opens New Jersey office, hires Gambuzza-led investment sales team

Real estate services firm Berkadia has launched a new office in New Jersey with the recent addition of a multifamily investment sales team based in Morristown.

Finance & Capital Markets
JLL: Columbia snags $29 million permanent loan for 93-unit Jersey City rental project

A fund managed by Columbia Property Trust has landed a nearly $29 million loan for a new 93-unit apartment building in Jersey City’s Bergen-Lafayette neighborhood.

Finance & Capital Markets
Progress Capital inks $25 million loan for 141-unit Gloucester City rental property

A developer has secured a $25 million permanent loan for a newly built, 141-unit apartment complex in Camden County, in a newly announced deal by Progress Capital.

Finance & Capital Markets
Joint venture lands financing for $63 million recap of North Bergen condo project

The developers of a new luxury condominium building in North Bergen have recapitalized the project’s remaining homes for $63.2 million, a debt placement team announced Monday.

Retail
North Bergen mixed-use property sold for $740,000

A personal trust has sold a 2,400-square-foot mixed-use property in Hudson County for $740,000, according to a brokerage team with Marcus & Millichap.

Top News
NJCU to honor Jersey City developer Paul Silverman at annual gala

New Jersey City University has unveiled plans to honor Paul Silverman, the longtime Jersey City developer, business leader and philanthropist, at its upcoming gala.

Residential & Mixed Use
New Jersey-based JLL team inks $146 million sale of Long Island luxury rental complex

A development team has sold a newly built, 260-unit apartment property on Long Island for $146 million, in a deal by JLL’s Morristown-based capital markets team.

Residential & Mixed Use
Kislak: Brooklyn buyers acquire 49 units in Asbury Park for $5.9 million

An apartment investor has added 59 units with its purchase of two properties in Asbury Park, in a nearly $6 million deal arranged by The Kislak Co. Inc.

Residential & Mixed Use
Blau & Berg inks sale of Orange parcels for 410-unit Russo, Dinallo project

A development team has closed on two parcels in Orange to complete the site of a planned 410-unit multifamily project, brokers with The Blau & Berg Co. said.

Finance & Capital Markets
Summit apartment owner secures $11.5 million loan, refis 37-unit complex

The owner of a 37-unit luxury apartment complex in downtown Summit has refinanced the property for $11.5 million, in a newly announced deal by JLL.