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.

Office
NAI Fennelly inks sale of 6,600 sq. ft. office, apartment building in Mercer

A real estate firm has sold a 6,600-square-foot office and residential building outside Princeton, in a newly completed transaction by NAI Fennelly.

Finance & Capital Markets
Hampshire lands $29 million construction loan for 85-unit Morristown rental project, JLL says

The Hampshire Cos. is proceeding with a new 85-unit luxury apartment building in Morristown with the help of a nearly $29 million construction loan, in a newly announced deal by JLL.

Residential & Mixed Use
Larken debuts clubhouse at 191-unit upscale rental property in Hillsborough

Larken Associates has unveiled a new clubhouse at a 191-unit residential property in Hillsborough, marking the latest piece of a project in its final stages of construction.

Finance & Capital Markets
Progress Capital sources $14 million refi loan for new Journal Square apartments

The owner of a new 79-unit apartment building in Jersey City has refinanced the property for $14 million, according to a debt placement team with Progress Capital.

People
Veris Residential taps new CIO, general counsel to succeed departing Cardoso, Wagner

Veris Residential Inc. has named a new chief investment officer and general counsel to succeed two longtime executives at the former Mack-Cali Realty Corp.

Residential & Mixed Use
Montclair apartment building sold after 52 years, fetching $38 million, Gebroe-Hammer says

The owner of a well-known, 133-unit apartment building in Montclair has sold the property after more than five decades, in a $38 million deal arranged by Gebroe-Hammer Associates.

Residential & Mixed Use
KABR adds Stamford rental properties for $41 million, in JLL-brokered deal

KABR Group has made two additions to its luxury apartment portfolio in Stamford, Connecticut, acquiring 116 units in a set of deals by JLL’s Morristown-based capital markets team.

Residential & Mixed Use
Elizabeth apartment high-rise sells for $14.3 million, Kislak says

The longtime owner of a 193-unit, age-restricted apartment high-rise in Elizabeth has sold the property for $14.3 million, in a newly announced deal by The Kislak Co. Inc.

Finance & Capital Markets
JLL: Developers ink $105 million loan for 362-unit Jersey City rental portfolio

A joint venture has secured $105 million to refinance a two-building, 362-unit multifamily portfolio in Jersey City’s burgeoning West Side neighborhood, in a deal arranged by JLL.

Residential & Mixed Use
Newark parcel with approvals for 190 apartments fetches $3.9 million, PRE says

An area real estate firm has acquired a Newark development site with full approvals for 190 apartments, in a deal arranged by PRE Real Estate Services.