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.

Deals
Cervelli: North Bergen mixed-use building changes hands as tenant buys property

A tenant at a nearly 4,000-square-foot mixed-use building in North Bergen has acquired the property, in a newly announced deal by Cervelli Real Estate.

Residential & Mixed Use
Fidelco, Diversified sell 393-unit Union rental property for $132 million, JLL says

Fidelco Realty Group and Diversified Properties have sold a newly developed, 393-unit luxury apartment complex in Union Township for nearly $132 million, in a deal arranged by JLL.

Finance & Capital Markets
Silver Arch closes $14.5 million bridge loan for Brooklyn condominium units

Silver Arch Capital Partners has completed a $14.5 million bridge loan to the developer of a condominium property in Brooklyn’s Williamsburg section.

Health Care
JLL: Sunrise Senior Living sells four-year-old, 88-unit facility in Franklin Lakes

Sunrise Senior Living has sold an 88-unit assisted living and memory care facility in Franklin Lakes after debuting the property in 2021, brokers with JLL announced Tuesday.

Professional Services
Hudson Atlantic’s Favorito named vice president of multifamily sales

Hudson Atlantic has added to its leadership ranks after promoting broker Nick Favorito to vice president of multifamily sales.

Residential & Mixed Use
Urban Edge to sell Bergen Town Center parcel slated for 456 apartments for $25 million

Urban Edge Properties is selling a piece of Bergen Town Center — its sprawling retail property in Paramus and Maywood — one that’s slated for redevelopment as more than 450 apartments.

Finance & Capital Markets
Namdar Group lands $32 million loan for multiple Journal Square projects, HKS says

A new project by Namdar Group would bring 1,151 apartments, 5,000 square feet of retail space and 26,000 square feet of office space to a 47-story tower on Lott Street in Jersey City. — Rendering courtesy: HKS Real Estate Advisors

Professional Services
Kislak recognizes top deals, performances of 2024 at annual sales awards

The Kislak Co. Inc. is celebrating four of its brokers for their achievements in 2024, touting their roles in the firm’s $500 million in overall sale and lease transactions for the year.

Government & Public Policy
Perth Amboy approves Kushner plan for 602 rentals, public amenities along city’s waterfront

Kushner and city officials in Perth Amboy have taken a key step in a plan to bring more than 600 apartments and retail space to a nearly 16-acre stretch along the Arthur Kill waterfront.

Finance & Capital Markets
Office-to-residential project with 40 units in Newark refis for $11 million, Eastern Union says

A developer has secured nearly $11 million in financing for a project that will convert an office building in Newark into 40 apartments, tenant amenities and commercial space.