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
Progress: $2.3 million loan funds purchase of Jersey City development site

Progress Capital Advisors has closed on a $2.3 million loan for a client to acquire a gas station in Jersey City, where it has approvals to build a 45-unit apartment building.

Residential & Mixed Use
Battle continues over stalled Kushner, KABR project in Jersey City

The public feud between the Kushner Cos. and Jersey City Mayor Steven Fulop continued late last week, as lawyers for the developer threatened additional litigation on top of a lawsuit over a long-delayed, high-profile project in Journal Square.

Professional Services
Environmental firm touts milestone in N.J. cleanup program

A Hoboken-based firm is nearing a milestone in the state’s Licensed Site Remediation Professional program, having closed nearly 150 cases under the six-year-old guidelines.

Health Care & Education
CHA receives final OK for $57 million hospital redevelopment in Plainfield

A developer has completed its purchase of a shuttered hospital complex in Plainfield, clearing the way for a redevelopment that calls for a new medical arts complex and 120 apartments.

Residential & Mixed Use
Vango kicks off construction at 52-unit rental project in Rutherford

A developer has broken ground on a new 52-unit luxury apartment building in downtown Rutherford, touting a location just two blocks from rail and bus service to Manhattan.

Residential & Mixed Use
Developer sells Middlesex County apartments for $30 million, Gebroe-Hammer says

More than 50 years after completing a 152-unit garden apartment complex in Highland Park, the developer of the property has sold it for $30 million.

Office
Newark’s construction boom is bolstered by a long-awaited change in perception, CBRE says

Experts say Newark is enjoying not only a surge of new private-sector investment, but also a level of interest that is helping to break the stigma that has plagued it for decades.

Residential & Mixed Use
South Jersey apartment complex trades for $32.1 million

A multifamily owner has sold a 546-unit garden apartment complex in Camden County for $32.1 million, in a newly announced sale arranged by Gebroe-Hammer Associates.

Finance & Capital Markets
Raritan rental property refinances for $46 million

Meridian Capital Group has arranged a $46 million loan for a client to refinance a recently renovated, 224-unit apartment property in Somerset County.

Residential & Mixed Use
Cliffside Park condo developer names new marketing director

The developer of a 204-unit condominium building in Cliffside Park has hired a new director of marketing.