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.

Residential & Mixed Use
SJP, Claremont eye groundbreaking for 444-unit rental tower at historic Jersey City church site

SJP Properties, Claremont Development and Battery Global Advisors are set to begin construction on a new 444-unit luxury rental tower in Jersey City, having secured joint venture equity and financing in connection with the project.

Residential & Mixed Use
Sharbell debuts 20 townhomes as final piece of Montgomery project

Sharbell Development Corp. has unveiled 20 new townhome-style condominiums in Somerset County, marking the completion of a project just west of Route 206.

Residential & Mixed Use
Deluccia: Raritan Borough building with four apartments, restaurant trades for $1.2 million

An investor has purchased a mixed-use building in downtown Raritan Borough for $1.15 million, in a newly announced deal by Deluccia Commercial Group.

Residential & Mixed Use
Napier Park sells 43-unit Newark portfolio in REO deal, CBRE says

An alternative asset manager has sold an updated two-building, 43-unit apartment portfolio in Newark as part of a real estate owned transaction arranged by CBRE.

Finance & Capital Markets
Russo lands $162 million loan for new 534-unit ‘Vermella’ rental project in New Brunswick

Russo Development has closed on $162 million in financing for its new 534-unit high-end multifamily development in New Brunswick, brokers with JLL announced Friday.

Residential & Mixed Use
Affordable housing, strip mall in Livingston change hands in deals arranged by Kislak

A private investor has purchased a 51-unit affordable housing complex in Livingston for $4.5 million, in one of two newly announced deals by The Kislak Co. Inc.

Government & Public Policy
EDA approves $68 million Aspire award to rehab 196-unit Trenton affordable housing tower

An affordable housing investor is to set to rehabilitate an apartment tower in Trenton with the help of a nearly $68 million tax credit award from the state Economic Development Authority.

Retail
Kamson inks two leases to fill retail space at mixed-use Teaneck project, JLL says

The Kamson Corp. has added two retail tenants at a mixed-use development in Teaneck, filling nearly 8,400 square feet in a set of newly announced deals by JLL.

People
Sigman to retire as LCOR executive vice president, principal at year-end

David A. Sigman, a longtime LCOR executive and a key figure in the developer’s growth in the New York metropolitan region in recent decades, is stepping down at year-end.

Residential & Mixed Use
JLL tapped to sell 393-unit luxury apartment complex in downtown New Brunswick

A luxury apartment complex in New Brunswick is on the market for sale, providing a chance for would-be investors to plant a flag in the city’s fast-growing downtown.