The state Assembly has passed a bill that would shield residents from eviction and require landlords to create payment plans for past due rent during the pandemic, drawing renewed criticism from the apartment industry.
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.
Walters opens fifth building, marks completion of Manahawkin rental complex
Walters has completed construction on the last of five buildings at a 60-unit, income-restricted apartment community in Ocean County.
A fresh look
You wouldn’t know it by the last four months, but major news stories are always prone to ebbs and flows. The federal Opportunity Zone program is a case in point when it comes to commercial real estate publications. The investment vehicle has been all the rage at various points since it was created in late 2017, only to take a step back as buzz died down.
Tulfra breaks ground on self-storage project at Rochelle Park redevelopment site
Tulfra Real Estate has started construction at the site of a self-storage facility in Rochelle Park, part of a plan to redevelop a former AT&T data center site near Route 17.
RD Management, Canoe Brook launch leasing at 338-unit rental project in Marlton
A joint venture has taken the wraps off a new 338-unit upscale apartment property in Evesham, the latest piece of a mixed-use redevelopment site along Route 70.
Greystone closes $15.3 million loan for Camden County apartment complex
The owner of a 208-unit multifamily property in Camden County has refinanced for more than $15 million, in a newly announced transaction by Greystone.
DeMarco out after five years at Mack-Cali, as REIT names interim CEO
Michael DeMarco is out as CEO of Mack-Cali Realty Corp., the company announced, following a year-long proxy fight that saw activist investors win control of its board of directors.
Investor lands long-term financing, repays $8.75 million loan from Procida
A borrower has repaid an $8.75 million loan to Procida Funding after securing long-term financing for an eight-building, mixed-use portfolio in Sleepy Hollow, New York.
BNE, local officials break ground on first phase of major redevelopment in South Amboy
BNE Real Estate has broken ground on a 291-unit residential building in South Amboy, the first piece of a sweeping waterfront redevelopment that will yield nearly 2,000 new apartments.
KABR, Gebroe-Hammer tout $24 million sale of Jersey City rental building
The KABR Group has sold a newly built, 58-unit apartment property in Jersey City’s McGinley Square neighborhood, in a transaction arranged by Gebroe-Hammer Associates.
