The owner of two garden apartment complexes in Essex and Bergen counties has secured nearly $46 million in financing, in a set of newly announced transactions by JLL.
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.
Turning the page on a challenging year for New Jersey’s apartment industry
Like everyone else, we expected 2021 to be better and easier. At the beginning of the year, the vaccines were starting to roll out, the feeling was positive and the worst was behind us. But then the reality of 2021 set in. Across the country, with the rise of the Delta variant, supply chain problems, labor shortages and unanticipated weather events, we were thrust into another difficult year. It wasn’t the 2021 we had all hoped for — it was “2020 redux” — and it was just as challenging but in different ways.
