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.

Finance & Capital Markets
Morristown apartment owner inks $7.2 million loan for 37-unit property, G.S. Wilcox says

The owner of a four-building, 37-unit apartment property in downtown Morristown has secured $7.2 million in financing, in a newly announced deal by G.S. Wilcox & Co.

Finance & Capital Markets
JLL sources $48 million refi loan for 165-unit senior housing portfolio in Bergen, Rockland

The owners of senior housing communities in northern New Jersey and the Lower Hudson Valley have refinanced the portfolio for $48 million, brokers with JLL said Monday.

Residential & Mixed Use
Developer sells four-year-old, 232-unit Belleville rental complex for $80 million, JLL says

Klein Enterprises has sold a 232-unit luxury apartment property in Belleville, the Maryland-based developer’s first project in New Jersey, in an $80 million deal arranged by JLL.

Residential & Mixed Use
Amato, veteran Jersey Shore homebuilder, sworn in as NJBA board chair

The New Jersey Builders Association has installed Christopher Amato as its new chair, a key post for the influential trade association and its critical advocacy and education platform.

Finance & Capital Markets
Rental project at Morristown station advances with $40 million construction loan, CBRE says

A developer has landed a $40 million construction loan for a planned 89-unit luxury apartment building next to NJ Transit’s Morristown station, in a newly announced deal by CBRE.

Finance & Capital Markets
Kennedy Funding closes $2.5 million land loan for 63-acre St. Thomas portfolio

Kennedy Funding, the Englewood-based direct private lender, has closed a $2.5 million cash-out refinancing loan to the owner of some 63 acres of property on the Caribbean island of Nevis.

Residential & Mixed Use
Russo sells 111-unit loft-style rental property in Verona for $56 million, CBRE says

Russo Development has sold a 111-unit multifamily property in Verona that it completed as part of an adaptive reuse of a historic factory building, in a deal arranged by CBRE.

Retail
Electronics repair, cell phone retailer expands to Jersey City with new lease, Cervelli says

An electronics repair and cell phone business has leased 1,700 square feet of retail space in Jersey City, in a deal arranged by Cervelli Real Estate & Property Management.

Finance & Capital Markets
URSA, Fields Grade ink $150 million loan for 336-unit Jersey City project, BlueGate says

A joint venture has secured $150 million in permanent financing for a new 336-unit multifamily property in Jersey City, in a newly announced deal by BlueGate Partners.

Finance & Capital Markets
CBRE: Kontos Group snags $18 million bridge loan for new 57-unit Roselle Park rental project

A developer has landed $18 million in bridge financing for a new 57-unit luxury apartment building in Roselle Park, according to a debt placement team with CBRE.