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.

Paterson, Passaic rental portfolio trades for $17 million, Gebroe-Hammer says

An investor has paid $17 million for a nine-building, 133-unit apartment portfolio in Paterson and Passaic, in a transaction arranged by Gebroe-Hammer Associates.

Murphy signs law to extend deadlines for approved ERG, Urban Transit Hub projects

Gov. Phil Murphy has signed into law a bill that extends key deadlines for some projects that are still in development but were approved under two of the state’s defunct incentive programs.

Flemington taps global consulting firm, launches downtown revitalization plan

Armed with a $100,000 state grant, the borough of Flemington is taking new steps to draw private development and community-focused investment to its historic downtown.

Lenders Realty Capital names partner, chief operating officer

A veteran of the financial services industry has joined Lenders Capital Realty Services, a commercial real estate advisory firm, as partner and chief operating officer.

Developer plans 50 apartments after buying Morris County site, NAI Hanson says

A developer has acquired more than six acres in Morris County and is moving ahead with plans for a 50-unit apartment building at the site, according to NAI James E. Hanson.

Procida inks $14.5 million construction loan for Bergen condo project

Procida Funding & Advisors has originated a $14.5 million construction loan to the developer of an age-restricted condominium property in Bergen County.

Lawmakers pass $14 billion incentives bill, with Murphy expected to sign

A bill to create a sweeping new program of business and development incentives in New Jersey is awaiting Gov. Phil Murphy’s signature after being passed by state lawmakers on Monday.

HMFA names new executive director to succeed retiring Richman

The state has named the new leader of the New Jersey Housing and Mortgage Finance Agency, tapping a key official in the Department of Community Affairs to fill the role.

AvalonBay sells 384-unit complex in Somerset, JLL says

AvalonBay Communities Inc. has sold a 384-unit luxury multifamily complex in the Somerset section of Franklin, under a newly announced transaction by JLL.

Kislak: Developer buys Long Branch assemblage, plans oceanfront rental project

A developer is planning to build 109 luxury apartments in Long Branch after acquiring nearly two acres of oceanfront property in the city, according to The Kislak Co. Inc.