The owner of a 178-unit apartment portfolio in Middlesex and Bergen counties has secured more than $11 million in financing, in a transaction arranged by Cronheim Mortgage.
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.
NJAA: State must act quickly with rental assistance, resist new mandates on landlords
The New Jersey Apartment Association has called for rental assistance since the earliest days of the pandemic, as it continues to defend against other legislative proposals that it says would have severe unintended consequences. In part two of his two-part column, NJAA Executive Director David Brogan discusses the ongoing need for assistance and the complexity of disbursing it even after it has been approved. He also highlights the potentially devastating effects to both apartment owners and single-family homeowners if lawmakers take actions that further curtail rent revenue.
Brogan: Eviction moratorium, questions on rental assistance still loom over apartment owners
It will soon be a year since the start of New Jersey’s COVID-19 outbreak, one that has rippled through the state’s apartment industry and left landlords with unease and uncertainty. In part one of a two-part column, New Jersey Apartment Association Executive Director David Brogan answers some of the biggest questions still facing the multifamily sector, including how owners of all sizes are dealing with nonpayment of rent and the ongoing eviction moratorium, along with the prospect of state and federal rental assistance.
